Anadarko, Kerr-McGee Sued Over Tronox Spinoff

Law360, New York (July 13, 2009, 12:00 AM EDT) -- Kerr-McGee Corp. dumped hundreds of millions of dollars of environmental and tort liabilities on former subsidiary Tronox Inc. and concealed the scope of those liabilities before spinning off the now-bankrupt Tronox, according to a putative securities class action brought against Kerr-McGee and Anadarko Petroleum Corp.

The complaint, lodged Friday in the U.S. District Court for the Southern District of New York on behalf of named plaintiff Alaska Electrical Pension Fund, listed Kerr-McGee, its successor Anadarko, and several individuals as defendants, but did not target Tronox because...
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