Ares, Oaktree Cut From Suit Over $4B Exco Buyout

Law360, New York (May 4, 2011, 6:54 PM EDT) -- Oaktree Capital Management LP and Ares Management LLC on Wednesday escaped a Texas derivative suit accusing them of aiding misconduct by Exco Resources Inc.'s board in CEO Douglas H. Miller's $4 billion takeover bid for the natural gas and oil company.

U.S. District Judge Reed O’Connor dismissed the suit against Oaktree and Ares — who together hold 22 percent of Exco’s stock and joined in Miller’s bid — without prejudice at the joint request of the plaintiff and the hedge funds.

Exco shareholder Kathy Guerra filed...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Guerra v. Miller et al


Case Number

3:10-cv-02385

Court

Texas Northern

Nature of Suit

Stockholders Suits

Judge

Reed C O'Connor

Date Filed

November 22, 2010

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.