Texas Court Affirms $1.5M Award In Oil Investment Scam

Law360, New York (June 28, 2012, 10:39 PM ET) -- A Texas appeals court on Thursday upheld a $1.5 million judgment against three oil investment companies, in a suit alleging that they lied about investment returns, stole client funds and failed to disclose that the principal of all three entities was a felon.

In affirming the judgment against James “Rusty” Cleveland, Kellie Dorman, Nicos Energy LLC, Oasis Petroleum LLC and Lone Star Land & Exploration LLC, the First Court of Appeals for the State of Texas ruled that the trial court’s decision to disregard an arbitration...
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