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.

The two...

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