Fund Plotted With Rival To Take Over Board: VAALCO

Law360, New York (May 14, 2008, 12:00 AM EDT) -- VAALCO Energy Inc. has accused a New York-based hedge fund of conspiring with Swiss competitor Pilatus Energy SA to mislead investors in a scheme to infiltrate VAALCO's board of directors.

The Houston-based energy company filed suit Tuesday in the U.S. District Court for the Southern District of Texas accusing Nanes Delorme Partners I LP and Pilatus of violating federal securities laws by using false and misleading proxy statements to win over shareholders and gain control of the company.

The suit claims Nanes Delorme and its affiliates...
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