Former Valerus Worker Sues Over Stock Redemption

Law360, Houston (November 6, 2012, 11:13 PM EST) -- A former Valerus Compression Services LP employee launched a suit in Texas state court Tuesday alleging he is being unfairly deprived of his stock in the company because of a noncompete agreement he signed.

William Austin claims that a noncompete clause contained in his employment agreement with Valerus had long since expired when he accepted his chief financial officer position with Exterran Holdings Inc., but that Valerus is nonetheless trying to enforce the contract and buy back his stock at an unreasonably low price.

“Valerus sent...
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