Seventy Seven Seeks Sanctions Against Firm In Merger Suit

By Michele Gorman (September 7, 2017, 5:12 PM EDT) -- Seventy Seven Energy Inc. on Wednesday asked an Oklahoma federal judge to sanction counsel for a shareholder, alleging the firm filed a proposed class action over a merger solely to generate attorneys' fees.

The oil field services company said sanctions are permissible against Monteverde & Associates PC, which is representing Maria Comeaux, because the lawsuit raised "meritless challenges" to the now-completed merger between it and the Houston-based Patterson-UTI Energy Inc. In the suit, Comeaux said the merger offered Seventy Seven Energy shareholders too little and didn't reveal information about conflicts of interest and concrete financial projections.

"While merger strike suits are...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!