News

Gardere Represents Longview Energy Co. in Another Win

08.13.13

Law360 covered a Delaware court's ruling in favor of Longview Energy Co. against claims by two Texas oil company directors, Bill Huff and Richard D'Angelo. In September 2012, the directors were found liable for hijacking the opportunity to buy 46,000 acres of south Texas oil and gas land from Longview Energy Co. While that verdict is currently on appeal, the directors filed in Delaware seeking insurance coverage for the legal bills in connection with the Texas litigation.

Chancellor Leo E. Strine Jr.'s finding is summarized as follows:

"Corporate fiduciaries who, unless they overturn a jury verdict, owe the corporation nearly $100 million and must yield to the company's substantial property rights, because they have been adjudicated to have breached their fiduciary duties, are not in an equitable position to ask this court to allow them to prematurely seek a money damages claim from the corporation to which they owed a duty of loyalty."

Gardere Litigation Attorneys Craig B. Florence, Randy D. Gordon and Rachel Kingrey represented Longview Energy Co.

Subscribers can access the full article here.

The publications contained in this site do not constitute legal advice. Legal advice can only be given with knowledge of the client's specific facts. By putting these publications on our website we do not intend to create a lawyer-client relationship with the user. Materials may not reflect the most current legal developments, verdicts or settlements. This information should in no way be taken as an indication of future results.

Search Tips:

You may use the wildcard symbol (*) as a root expander.  A search for "anti*" will find not only "anti", but also "anti-trust", "antique", etc.

Entering two terms together in a search field will behave as though an "OR" is being used.  For example, entering "Antique Motorcars" as a Client Name search will find results with either word in the Client Name.

Operators

AND and OR may be used in a search.  Note: they must be capitalized, e.g., "Project AND Finance." 

The + and - sign operators may be used.  The + sign indicates that the term immediately following is required, while the - sign indicates to omit results that contain that term. E.g., "+real -estate" says results must have "real" but not "estate".

To perform an exact phrase search, surround your search phrase with quotation marks.  For example, "Project Finance".

Searches are not case sensitive.

back to top