Falcon Strikes Back At Tide Over $515M Gas Sale

Law360, New York (August 31, 2010, 12:47 PM EDT) -- Falcon Gas Storage Co. Inc. has fired back in a suit brought by Tide Natural Gas Storage LP over the $515 million sale of two natural gas reserves, accusing the plaintiff of breach of contract and denying that the assets were overvalued.

Falcon lodged an answer to Tide's complaint in the U.S. District Court for the Southern District of New York on Monday, denying allegations that it misrepresented the value of NorTex Gas Storage Co. LLC and fighting to hold on to a $70 million escrow...
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