Lilis Wants Damages, Stock Awards Back From Axed VP
Law360 (July 11, 2018, 6:54 PM EDT) -- Lilis Energy Inc. on Tuesday slapped a former company vice president with a lawsuit seeking to claw back stock options given to him before his cause-based termination, saying the executive lied to secure cash incentive bonuses and concealed major defects in a land acquisition.
The oil and gas company told a New York state court that Seth Blackwell, the former executive vice president of land and business development for Lilis, breached his fiduciary duty to the company by submitting false documentation about oil production numbers to claim a cash incentive bonus. After his termination, the company discovered Blackwell knew of key...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!