Texas Justices Uphold Forum Clause In $33M Oil Merger Row

Law360, Houston (February 28, 2014, 8:19 PM ET) -- The Texas Supreme Court said Friday that the former owner of an oilfield service company who sold his business for $33 million and later sued the buyers over alleged post-acquisition mismanagement is subject to statutory and contractual venue provisions that control disputes arising out of the merger.

Granting a petition for writ of mandamus filed by executives of defunct Nighthawk Oilfield Services Ltd., the high court ruled that fraud and defamation claims Mike Richey filed against the men in Wise County, Texas, over management disputes that...
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