American Oil Ends Investor Fight Over $445M Hess Deal

Law360, New York (November 22, 2010, 4:06 PM EST) -- American Oil & Gas Inc. and Hess Corp. have agreed to pay at least $200,000 in attorneys' fees and to file additional securities disclosures to settle a putative class action brought by American Oil shareholders challenging Hess' proposed $445 million purchase of the company.

In the U.S. District Court for the District of Colorado on Friday, the shareholders, along with Denver-based American Oil, five of its directors and its co-defendant Hess, moved for preliminary approval of the settlement and certification of a non-opt-out settlement class of...
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