XTO Energy Shareholder Sues Over $41B Exxon Deal

Law360, New York (January 4, 2010, 4:53 PM EST) -- An XTO Energy Inc. shareholder has ignited a putative class action accusing the oil and natural gas provider of orchestrating a $41 billion all-stock transaction with Exxon Mobil Corp. that failed to adequately compensate XTO shareholders for the company’s assets.

Current shareholder James R. Harrison claims that both companies as well as a dozen XTO directors pursued “an unlawful plan to divest the company’s public stockholders of their holdings in the company” by agreeing to exchange each share of XTO stock for an “unfair amount” of...
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