Investors Can't Revive Suit Over $2.5B Exxon, InterOil Deal
Law360 (February 13, 2020, 7:52 PM EST) -- A group of investors can't get their proposed class action lawsuit over ExxonMobil Corp.'s $2.5 billion acquisition of InterOil revived based on "new evidence" that was already in the docket and taken into account by the court, a Texas federal judge has ruled.
U.S. District Judge Brantley Starr on Wednesday declined to overturn a March ruling dismissing the suit brought by lead plaintiff Kim Block. The investors alleged they were deceived into approving the transaction via misleading statements, which they argued in turn undervalued their InterOil shares.
The purported new evidence that Block urged the court to consider is a February...
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