Calpine Takes Aim At Rosetta In $400M Suit

Law360, New York (July 2, 2007, 12:00 AM EDT) -- After weeks of sparring, Calpine Corp. has hauled Rosetta Resources Inc. to court for allegedly underpaying Calpine by an estimated $400 million when the energy giant sold its oil and gas assets to the independent oil and gas company for $1.05 billion.

The lawsuit, filed Friday, seeks to recover for the benefit of the bankrupt estate and its creditors the value that Rosetta allegedly did not pay Calpine for the assets it acquired.

Calpine said it had learned that the assets sold to Rosetta—which included substantial...
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