Unit Operator Inflating Earn-Out Sum, Construction Co. Says

Law360, New York (July 8, 2013, 4:12 PM EDT) -- A U.S. unit of global construction conglomerate Foster Wheeler AG on Friday sued the former operator of an oil exploration engineering firm it acquired in 2009 for an initial payment of $21 million, accusing him of inflating the earn-out amounts that were also part of the purchase deal.

Foster Wheeler USA Corp. filed its suit in the Delaware Court of Chancery against Atlas Engineering Inc. and Christakis N. Vrakas, looking to have the court declare that the ex-operator may only use revenues generated by Atlas for...
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