Caprock Midstream Hit With $9.5M Suit Over Merger Deal
Law360 (May 22, 2020, 6:37 PM EDT) -- Caprock Midstream has been accused in Texas state court of tricking a Blackstone Energy Partners-owned midstream energy company into a $950 million merger by withholding information about various liabilities and potential claims during negotiations.
EagleClaw Midstream Ventures LLC and parent company BCP Raptor II LLC petitioned a Houston court Thursday as they seek $9.5 million in damages and a declaratory judgment that Caprock Midstream and Caprock Preferred Equity Holdings LLC conspired to fraudulently induce the merger.
Since EagleClaw's acquisition of Caprock, the company says it has been presented with at least six claims against Caprock that total more than $20 million...
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