VAALCO Energy Settles Proxy Fight With Hedge Fund

Law360, New York (May 27, 2008, 12:00 AM EDT) -- VAALCO Energy Inc. and Nanes Delorme Partners I LP have settled a proxy battle and legal dispute over the hedge fund's attempts to replace three of the energy company's board members with its own representatives.

Under the settlement, Houston-based VAALCO has agreed to drop its securities suit against Nanes Delorme and revamp some of the company's top management and board of director positions, the parties said in a joint statement Friday.

W. Russell Scheirman will continue to serve as president, but the role of chief financial...
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