Strine Strips Indemnity Claim From Shale Rights Case

Law360, Wilmington (August 12, 2013, 9:16 PM EDT) -- A Delaware judge tossed an indemnification claim Monday from two Longview Energy Co. directors whom a Texas jury found had breached their fiduciary duties by purchasing valuable shale oil rights for themselves, ruling the case couldn’t be decided until the Texas case had concluded.

The claim by Richard D’Angelo and William R. Huff — who also had a $96 million judgment lodged against them — saying Longview ought to partially indemnify them for legal fees and costs “arises in an unusual context" because it’s the directors...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.