Class Certified In Investor Action Against Oil Field Developer

Law360, Los Angeles (January 8, 2014, 4:11 PM EST) -- A California federal judge ruled Monday that investors in a class action accusing Petroleum Development Corp. of shortchanging investors when it bought back their stakes in Colorado oil properties in predevelopment had satisfied the predominance requirement needed for certification.

In an order granting the motion for class certification, U.S. District Judge Andrew J. Guilford said there were similar issues of liability in the limited partnerships in which the plaintiffs invested and Petroleum Development had purchased.

Petroleum Development argued that common issues don't predominate because the 12...
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