Oilsands Investors Go After Execs In $136M Overvaluation Suit

Law360, New York (October 24, 2012, 4:18 PM EDT) -- A New York federal judge on Tuesday greenlighted a putative investor class action against the former top brass of Oilsands Quest Inc., which accuses the company of overstating asset valuations by more than $136 million, after a Canadian bankruptcy court lifted a stay in a related case.

Following a ruling by the Court of Queen’s Bench of Alberta, U.S. District Judge Jed S. Rakoff lifted a stay of the U.S. case as it pertains to the individual former officers and directors of Oilsands Quest and to...
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