XTO Gets Tax Refund Derivative Suit Tossed Over Venue

By Mike Cherney

Law360, New York (March 11, 2010, 2:40 PM ET) -- An Oklahoma federal judge has ruled that his court is not the proper venue for a shareholder derivative suit accusing XTO Energy Inc. of overpaying millions of dollars in Arkansas state sales taxes.

Judge Joe Heaton of the U.S. District Court for the Western District of Oklahoma dismissed the case without prejudice Tuesday, saying plaintiff Rathbone LLC had failed to show that a substantial portion of the allegedly improper acts occurred in his judicial district.

The victory for XTO, which conducts oil and gas exploration and...
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