Rees-Jones, Devon Energy Put $200M Investor Suits To Rest

Law360, Houston (January 11, 2013, 4:02 PM EST) -- An attorney for billionaire Trevor Rees-Jones confirmed Friday that his client and Devon Energy Production Co. LP had settled with two investors who claim they were cheated out of stakes worth more than $200 million in a company Devon later acquired for $2.2 billion.

In separate suits, former investors Robert Allen and D. Bobbit Noel Jr. claimed that Dallas oil tycoon Rees-Jones, founder of Chief Holdings LLC, had fraudulently convinced them to sell their stakes in the closely held gas exploration company in 2004 by hiding...
To view the full article, register now.