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Texas Billionaire Hit With $18.4M Verdict In Oilfield Co. Row

Law360, Houston (April 7, 2017, 7:23 PM EDT) -- A panel of jurors in Grayson County, Texas, on Wednesday awarded $18.4 million to the former owner of Yellowjacket Oilfield Services LLC, finding he hadn't misrepresented the value of his company or defrauded billionaire Lacy Harber and his company in deals surrounding the purchase of the oilfield services company.

According to court documents, Geradus Smith in June 2015 entered into an agreement with a man not involved in the lawsuit, Tommy Robertson, to purchase a 95 percent interest in Smith's company, Yellowjacket Oilfield Services LLC, for...
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