UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): February 26, 2002
TRANS ENERGY, INC.
(Exact Name of Registrant as Specified in its Charter)
NEVADA 0-23530 93-0997412
State or Other (Commission (IRS Employer
Jurisdiction) File Number) Identification
Number)
210 Second Street, P.O. Box 393, St. Mary's, West Virginia 26170
(Address of Principal Executive Offices and Principal Place of Business)
Registrant's Telephone Number, Including Area Code: (304) 684-7053
FORM 8-K
Item 5. Other Events
In September 2001, the Securities and Exchange Commission filed a civil
action in the United States District Court for the District of Columbia (Civil
Action No. 1:01CV020060) against Trans Energy, Inc. (the "Company") and two of
its directors, Loren E. Bagley and William F. Woodburn. The complaint alleged
violations of the anti-fraud and reporting provisions of the federal securities
laws in connection with press releases, wesbite postings, and Commission
filings. The Commission's complaint sought injunctive relief and civil
penalties.
Also in September 2001, Mr. Bagley resigned as the Company's President
and Chief Executive Officer, and Mr. Woodburn resigned as Vice President,
although he continues as Secretary and Treasurer. Mr. Bagley was appointed as a
Vice President and Robert L. Richards was elected as the new President, Chief
Executive Officer and a director.
On February 26, 2002, the District Court entered a permanent injunction
against the Company, Mr. Bagley, and Mr. Woodburn, permanently enjoining them
from future violations of the Securities Exchange Act of 1934 and certain rules
promulgated thereunder. The Court also ordered Messrs. Bagley and Woodburn to
each pay a $20,000 civil penalty. The Company, Mr. Bagley and Mr. Woodburn
consented to entry of the permanent injunction and the imposition of civil
penalties without admitting or denying the Commission's allegations.
SIGNATURES
In accordance with the requirements of the Securities Exchange Act of
1934, the Registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
TRANS ENERGY, INC.
Date: March 5, 2002 By: /S/ ROBERT L. RICHARDS
--------------------------
Robert L. Richards
President and Chief Executive Officer
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