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Northern District of Texas Dismisses Bad Faith Claims in Well-Control Policy Dispute

Eagle Oil & Gas Co. v. Travelers Prop. Cas. Co. of Am., No. 7:12-cv-00133-O (N.D. Tex. Jul. 14, 2014) - Northern District of Texas dismisses bad faith claims against insurer and adjuster in dispute over coverage for...more

Operator Wins JOA Fight

MDU Barnett Ltd. P’ship v. Chesapeake Exploration Ltd. P’ship is at least three things: - The culmination of an unhappy relationship between an operator and non-operators. - What happens when joint owners’ interests...more

Texas Supreme Court Will Review Reversal Of $20 Million Judgment

Two intriguing factors are present in the Texas Supreme Court’s decision to review Hooks v. Samson Lone Star, LP. It is out of the ordinary for this court to consider a court of appeals reversal of a large jury verdict. ...more

The "Bright Star" Fades: The NC Business Court On Letters Of Credit

I've resolved this year to blog about every numbered decision of the Business Court, as opposed to past years, where my lack of enthusiasm about the more boring decisions has left me writing about less than 100% of the...more

Barclays Motion to Dismiss Raises Significant Issues About FERC Jurisdiction

After an investigation of actions in the western electricity markets by Barclays Bank PLC (“Barclays”), Daniel Brin, Scott Connelly, Karen Levine, and Ryan Smith (collectively, the “Traders” and together with Barclays,...more

Appeal Court Allows $2-Billion Wind Farm Action to Proceed Against Government of Ontario

On November 12, 2013, inTrillium Power Wind Corporation v. Ontario (Natural Resources), 2013 ONCA 683, the Ontario Court of Appeal allowed a $2-billion action by Trillium Power Wind Corporation (Trillium) to proceed against...more

How An Oil And Gas Scammer Avoided Justice

Scoundrels often get away with their crimes by scamming lots of victims for small amounts, so that no one investor can afford to prosecute his claim. Big Rock Investors Association v. Big Rock Petroleum, Inc. was an...more

Haynesville Shale Fraud Judgment Reversed

Vestiges of the early Haynesville Shale land rush remain. Imagine: The lease is about to expire. Lessee (Mecom) offers lessor (Henderson) $90 per acre for an extension, telling him, “I could extend for two more years...more

Second Circuit Affirms Canadian Mining Company’s Victory in Securities Fraud Suit

A three-judge panel of the US Court of Appeals for the Second Circuit recently upheld the dismissal of a multidistrict class action against Canadian mining company Agnico-Eagle Mines Limited (Agnico) and its executives, who...more

Corruption Allegations in China Lead to a Shareholder Class Action in the U.S.

The filing of a shareholder class action has become routine following a drop in stock price after the revelation of adverse news about a company. Allegations of corruption at a public company are proving to be no different,...more

FERC’s BP America Manipulation Show Cause And Proposed $28 Million Penalty Highlights The Interrelationship Between CFTC And FERC...

The Federal Energy Regulatory Commission’s (FERC) August 5, 2013, $28 million show cause order against BP America Inc. and other BP affiliates highlights the interrelationship between the Commodity Futures Trading Commission...more

FERC Accuses BP of Market Manipulation

On August 5, 2013, the Federal Energy Regulatory Commission (FERC) issued an Order to Show Cause and Notice of Proposed Penalty, directing BP America Inc., BP Corporation North America Inc., BP America Production Company, and...more

Corporate and Financial Weekly Digest - July 26, 2013

In this issue: - District Court Rejects Challenge to SEC Conflict Minerals Rule - Mandatory Clearing of iTraxx CDS Indices for Category 2 Entities Began July 25 - CFTC Issues Extension of Time-Limited...more

FERC Assesses Record Civil Penalty But the Story Is Just Beginning

By Order dated July 16, 2013 the Federal Energy Regulatory Commission (FERC) assessed civil penalties against Barclays Bank Plc. and four of its traders – Daniel Brin, Scott Connelly, Karen Levine and Ryan Smith (Order). The...more

Delaware Court Dismisses Securities Fraud Action Against Power Plant Executives

The US District Court for the District of Delaware dismissed a class action for securities fraud against former officers and directors of a geothermal energy company, in which the plaintiffs alleged that the defendants had...more

REGULATORY: D.C. Regulatory: FERC Investigations in the Wake of D.C. Circuit’s Hunter Ruling

On March 15, the D.C. Circuit Court of Appeals dealt the Federal Energy Regulatory Commission (“FERC”) a major setback in its enforcement efforts by ruling that FERC had encroached on the exclusive jurisdiction of the...more

Court Rejects "Core Operations" Theory of Scienter in Battery Manufacturer Fraud Case

The District Court of Massachusetts dismissed Section 10(b)(5) claims against executives of a battery systems company, holding that plaintiffs could not rely on the theory that knowledge of the falsity of the statements at...more

Court Rules FERC Does Not Have Authority to Fine Trader for Manipulation of Futures Contracts

Pursuant to the Energy Policy Act of 2005, the Federal Energy Regulatory Commission (FERC) fined a natural gas trader $30 million for manipulating the settlement price for natural gas futures contracts on the New York...more

Weekly Brief: 78% of Law Schools Ignore ABA Rule [Video]

March 7 (Bloomberg Law) -- Bloomberg Law's Lee Pacchia runs through the legal news for the week. New testimony at the BP oil spill trial in New Orleans focuses on a key safety test taken shortly before the accident. Also,...more

Federal Court Concludes Much of SEC Claims Against Nicor Gas Executives Are Full of Gas

A federal judge in Illinois hollowed out much of the SEC’s case against two former executives of Nicor Gas. SEC v. Fisher, et al., No. 07-4483 (N.D. Ill.) (Zagel, J.) (Order). Although the court allowed the SEC’s substantive...more

DISPUTE RESOLUTION: Securities Litigation: Securities Litigation and the Energy Sector by Paul R. Bessette, Michael J. Biles and...

Throughout the past ten years securities litigation has made front-page news in the energy sector. Federal securities class action filings against energy companies specifically have increased in the past three years. While...more

Corporate E-Review: July 2012 -- A Battle of Mining Giants Regarding Rights of First Refusal: Ontario Superior Court of Justice...

On June 26, 2012, Justice Wilton-Siegel of the Ontario Superior Court of Justice released his decision in Barrick Gold Corporation v. Goldcorp Inc. et al. dismissing Barrick Gold Corporation (Barrick)’s claim that Goldcorp...more

U.S. Government Intervenes In Action Alleging Evasion Of Import Duties by Rebecca Woodings

The U.S. Department of Justice intervened in a lawsuit alleging falsification of country-of-origin documents to U.S. Customs and Border Protection. At issue is whether a Japanese company, Toyo Ink International Corp., two...more

FERC Issues $30 Million Penalty for Alleged Violations of Anti-Manipulation Rule

On April 21, 2011, the Federal Energy Regulatory Commission (FERC) issued an Order Affirming Initial Decision and Ordering Payment of Civil Penalty in connection with an Administrative Law Judge’s (ALJ) Initial Decision that...more

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