Berry Petroleum Shareholder Slams $4.3B Linn Energy Deal

Law360, Dallas (March 04, 2013, 7:10 PM ET) -- A Berry Petroleum Co. shareholder on Friday launched a putative class action in Colorado challenging the exploration company’s pending $4.3 billion sale to Houston-based Linn Energy LLC, saying it significantly undervalues Berry and represents self-dealing by company leadership.

The suit names Berry, Linn, several holding companies, company management and board members as defendants and alleges the deal was designed in a “hopelessly flawed process” that favors Berry’s largest shareholders and its top leadership. The proposed class of all common stock shareholders, excluding those with ties to...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required