Chancery Court Tosses Derivative Challenge to African Oil Transaction
The Delaware Court of Chancery on Tuesday dismissed a derivative suit filed on behalf of Erin Energy Corp., saying the company's board had successfully pushed back against alleged attempts by its controller to play all sides of a three-way transaction to acquire oil mining rights in Africa.
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Tom McParland of Delaware Law Weekly can be contacted at 215-557-2485 or at firstname.lastname@example.org. Follow him on Twitter @TMcParlandTLI.
A former U.S. Navy Reserve lawyer, who was handcuffed, shackled and arrested by U.S. Marshals to secure his testimony in a military commission case, filed a complaint Monday with the U.S. Department of Defense and the U.S. Marshal's Service.
The Delaware Court of Chancery has ordered the directors of Citigroup Inc. to make public high-level communications regarding the company's internal controls in a derivative suit brought by a group of investors in the investment banking firm.
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