PE Firm Fights For 5% Fracking Co. Stake

Law360, New York (May 23, 2012, 3:05 PM EDT) -- Private equity firm Jackson Partners LLC and a subsidiary asked a federal judge on Monday to force McClinton Energy Group to follow through on its agreement to give Jackson a 5 percent ownership stake in exchange for its help nailing down financing.

The Alexandria, Va.-based private equity firm said in its complaint that it had held up its side of the deal, including helping secure a 2011 loan “critical to MEG's survival,” which it only did based on the promise it would receive 500,000 MEG shares....
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