Frontier Shareholder Sues Over $7B Holly Merger

Law360, New York (February 25, 2011, 7:59 PM EST) -- A Frontier Oil Corp. shareholder launched a class action Friday in Texas in an effort to halt a $7 billion merger between the company and Holly Corp., just days after the announcement of the deal to create one of the largest U.S. oil refiners.

Walter Ryan Jr. accused Frontier's CEO and board of directors of breach of fiduciary duty and Holly of aiding and abetting that breach in the District Court of Harris County, Texas. The suit claims that the proposed merger benefits Holly to the...
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