Newfield Shareholder Sues To Block $5.5B Encana Deal
Law360 (December 20, 2018, 6:41 PM EST) -- A Newfield Exploration Corp. investor opened a proposed class challenge to the oil and gas company’s planned $5.5 billion all-stock merger with Encana Corp. in Delaware federal court Wednesday, accusing the company, its directors and Encana of a range of Securities Act disclosure violations.
Investor Adam Franchi argued in his two-count complaint that the deal, which includes Encana’s assumption of $2.2 billion in Newfield debt, violated the Securities Act of 1934 through omissions or false or misleading statements regarding the transaction.
The suit seeks to block a Newfield shareholder vote on the merger plan, now set for a special meeting on...
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!
Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.