Haynes and Boone in Law360: Exxon, InterOil Escape Investors' Suit Over $2.5B Deal

03/19/2019

Haynes and Boone, LLP Partners Dan Gold and Nina Cortell were mentioned in a Law360 article about a Texas federal judge rejecting a proposed investor class action over Exxon Mobil Corp.’s $2.5 billion acquisition of InterOil Corp. The judge ruled the deal was approved by a Canadian court to which the U.S. court should defer.

Here is an excerpt:

Former InterOil investors had alleged they were deceived into approving the transaction, which ended up undervaluing their InterOil shares. But U.S. District Judge Karen Gren Scholer held Friday that the Supreme Court of Yukon in Canada already found that the deal was fair in February 2017. And investor and class representative Melanie A. Cissone didn’t exercise her right to challenge the acquisition at that time, Judge Scholer said.

“The court finds that plaintiff has failed to show prejudice in the Canadian court or in the system of laws under which it was sitting, fraud in procuring the judgment, or any other special reason why the comity of this nation should not allow the judgment of the Supreme Court of Yukon full effect, ” Judge Scholer said in a 14-page ruling. . . .

The investors are represented by David T. Wissbroecker and Timothy Z. LaComb of Robbins Geller Rudman & Dowd LLP, Joe Kendall and Jamie J. McKey of Kendall Law Group PLLC and Peretz Bronstein of Bronstein Gewirtz & Grossman LLC.

Exxon is represented by Daniel Gold and Nina Cortell of Haynes and Boone, LLP and Andrew Ditchfield and Lindsay Schare of Davis Polk & Wardwell LLP.

To read the full Law360 article, click here. (Subscription required)

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