Investors Claim Riverstone Misled Ahead Of $3.8B Deal
By Michelle Casady (March 20, 2019, 6:10 PM EDT) -- A group of investors hit Riverstone Holdings LLC with a securities suit in Texas federal court Tuesday, alleging the energy private equity firm made misleading statements ahead of a unit's $3.8 billion acquisition of two companies.
FNY Partners Fund LP and FNY Managed Accounts LLC alleges that while those pushing the acquisition knew of issues with the stated valuation of Alta Mesa Resources Inc. and Kingfisher, they misled investors to ensure the deal would close. According to the lawsuit, Riverstone created a "blank check company," Silver Run II, in 2016 solely to merge with or acquire an energy business.
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!