Short summaries of case studies are listed below. Clicking on the case study title will provide a more detailed description.
Haynes and Boone client Frontera Resources, a Houston-based international oil and gas exploration and production company, acquired a large oil and gas lease in the country of Georgia, once part of the former Soviet Union, and needed to raise financing to develop the leasehold. Total development costs were initially financed through a series of private debt and equity placements. In 2004, Frontera began to explore the public equity markets. However, because of its size, the size of its offering, and its limited history, Frontera determined it would be difficult to complete a public offering on the traditional U.S. markets. >>
Resaca Exploitation, Inc., a Houston-based independent oil and gas exploration company, needed financing to fully exploit the oil and gas fields it had purchased, but was wary of the regulatory and expense burdens associated with being public in the U.S. After attending a seminar Haynes and Boone presented called "Market of the London Stock Exchange" management selected the firm to represent it in its AIM initial public offering. >>
Beginning in 2006, public companies in the U.S. whose executive compensation plans emphasized the granting of stock options increasingly had to deal with regulatory and prosecutorial investigations from the SEC. The inquiries raised questions over when and why stock options were granted, and whether such grants violated securities laws and other statutes such as Sarbanes-Oxley. These investigations could potentially lead to civil or criminal charges against companies and individual executives, restatement of financial results, and subsequent shareholder and derivative lawsuits over the negative financial impact of these actions. >>