Kaiser-Francis Owes Fiduciary Duty In Gas Royalty Suit

Law360, New York (August 12, 2011, 5:08 PM EDT) -- An Oklahoma federal judge ruled Friday that Kaiser-Francis Oil Co. owed a fiduciary duty under certain circumstances to owners of mineral rights, who won class certification last year in a breach of contract lawsuit accusing the company of failing to pay adequate royalties.

Kaiser-Francis sought summary judgment based on court statements that it could re-examine certification of breach of fiduciary duty claims if it determined there was no such relationship between the company and the royalty owners as a matter of law. The plaintiffs contend Kaiser-Francis...
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