In re XTO Energy Inc., Timberland Gathering & Processing Company, Inc., and Bank of America, N.A., No. 05-14-01446-CV, 2015 WL 4524197
October 21, 2015
(Court of Appeals of Texas, Dallas. July 27, 2015)
Shareholder of publicly traded oil and gas trust sues trustee and oil and gas operator. Claim is purported derivative claim on behalf of trust. Shareholder claims that oil and gas operator sold products through non-arms-length contracts to related company, thereby siphoning off profits that should have gone to shareholders. Shareholder claims that operator was obliged to renegotiate the agreements with the related company when they became unfavorable to the trust. Click on the PDFs below to read the Notice of Opinion and the Moses & Singer Alert.