Exxon, InterOil Escape Investors' Suit Over $2.5B Deal
Law360 (March 18, 2019, 6:47 PM EDT) -- A Texas federal judge has tossed former InterOil Corp. investors' proposed class action over Exxon Mobil Corp.'s $2.5 billion acquisition of InterOil, ruling the deal was approved by a Canadian court to which the U.S. court should defer.
Former InterOil investors had alleged they were deceived into approving the transaction, which ended up undervaluing their InterOil shares. But U.S. District Judge Karen Gren Scholer held Friday that the Supreme Court of Yukon in Canada already found that the deal was fair in February 2017. And investor and class representative Melanie A. Cissone didn't exercise her right to challenge the acquisition at...
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