22 Mar 2014 More

Lawsuit Filed Against EPL Oil and Gas over Sale

posted by Unknown @ 12:34 0 Comments

An investor of EPL Oil and Gas is suing to stop the sale of the company to Energy XXI, claiming the $1.5 billion sale is too low.

Investor Antonio Lopez states in the lawsuit, filed at the Delaware Chancery Court, the directors at EPL failed to maximize shareholder value and should award damages for the transaction.

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