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...
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Case Information

Case Title

Assad Trust v. Berry Petroleum Company et al


Case Number

1:13-cv-00544

Court

Colorado

Nature of Suit

Stockholders Suits

Judge

Philip A. Brimmer

Date Filed

March 1, 2013

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