Wexford Capital Skirts Fraud Claims Over $674M Archer Deal

Law360, Los Angeles (February 1, 2013, 10:04 PM EST) -- A New York federal judge on Friday dismissed securities fraud claims brought by oil and gas contractor Archer Well Co. Inc. against Wexford Capital LP over a $674 million purchase of pump services companies that were allegedly in worse shape than the private equity firm had claimed.

Friday’s decision to dismiss the claims comes after a Jan. 3 oral argument in which Wexford Capital argued that Archer’s claims should be barred for four of the five companies, called “Great White LLCs,” because the relevant transactions didn’t...
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