Archer Can't Show Damages In $674M Deal Row, PE Firm Says

Law360, New York (April 16, 2013, 1:46 PM EDT) -- A private equity group accused of misleading Archer Well Co. into purchasing a group of shoddy pump service companies for $674 million asked a New York federal judge to dismiss securities fraud claims in the case Monday, saying Archer lacks proof of any damages.

In a motion for summary judgment, Wexford Capital LLC said Archer’s third amended complaint fails to show any damages in connection with misrepresentations about an allegedly faltering customer base of Wexford's $674 million energy company portfolio, which it sold to Archer in...
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