Injunction Bid Rejected In PetroMed Investors' Suit

Law360, New York (September 9, 2009, 5:55 PM EDT) -- A federal judge has rejected a request from investors for a preliminary injunction barring asset transfers from oil and gas exploration startup PetroMed Corp. and its various affiliates, saying that investors may be better off if the companies can use the assets — mainly Israeli drilling licenses — to generate returns.

Judge Edward F. Shea of the U.S. District Court for the Eastern District of Washington on Friday denied the multipart injunction motion, a day after the expiration of a temporary restraining order that had previously...
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