Judge Keeps Oil Technology Case Alive

Law360 (March 5, 2008, 12:00 AM EST) -- A judge has ruled that a lawsuit accusing two former board members and employees of misusing money from oil production technology company Nord Service Inc. can proceed.

In a decision Monday in the U.S. District Court for the Eastern District of Texas, Judge Leonard Davis ruled against the defendants and said that NSI has standing to sue because the action was brought by the company's sole shareholder.

NSI filed the suit in 2006 against former board member and secretary and treasurer Jacob Palter, his son-in-law and...
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