Equal Energy Investor Sues To Stop $230M Petroflow Tie-Up

Law360, New York (January 15, 2014, 5:30 PM EST) -- An Equal Energy Ltd. shareholder filed suit in Oklahoma federal court Tuesday aiming to stop the $230 million sale of the company to Petroflow Energy Corp., saying important financial information that was withheld from stockholders prevented them from making an informed vote.

Johan A. Van Weelden's complaint was filed against Equal Energy, Petroflow and a host of Equal Energy's officers and directors after Equal Energy announced Dec. 6 that it was being acquired by Petroflow for $230 million, equivalent to $5.43 per share.

The complaint alleged that...
To view the full article, register now.