Investor Sues To Block Chevron's $3.2B Atlas Deal

Law360, New York (November 16, 2010, 6:34 PM EST) -- An investor has hit Atlas Energy Inc. and Chevron Corp. with a breach of fiduciary duty putative class action that claims the energy giant’s $3.2 billion bid to snap up the natural gas company leaves Atlas shareholders out in the cold.

Named plaintiff Abraham Katsman's suit, lodged Monday in the Court of Chancery for the State of Delaware, says Atlas is poised for "explosive growth" and that the deal doesn't pay out enough to holders of some 78 million Atlas shares.

The suit comes after the...
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