Judge Backtracks On Order In Prairie Oil Pact Dispute

Law360, New York (November 20, 2007, 12:00 AM EST) -- A New York federal judge has ruled that he does not have the authority to enforce a settlement agreement under which Professional Traders Fund LLC claimed it was entitled to a majority interest in Prairie Oil & Gas Inc.

On Friday, Judge Lewis A. Kaplan of the Southern District of New York vacated his dismissal of Professional Traders Fund’s motion to enforce the settlement, under which the fund received 9,999,999 shares of Prairie stock and 900,000 shares of reissued stock.

Professional Traders Fund sued Alberta, Canada-based...
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