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Case Status:    DISMISSED    
On or around 06/26/2020 (Other)

Filing Date: January 02, 2018

According to the Complaint, Interoil Corporation ("Interoil") was a publicly-traded oil and gas company listed on the New York Stock Exchange (the “NYSE”) prior to the acquisition of all of the issued and outstanding shares of InterOil by an affiliate of Exxon on or about February 22, 2017 (the “Acquisition”). InterOil engaged in the exploration, appraisal and development of hydrocarbon resources.

The Complaint alleges that in connection with the Acquisition, on January 13, 2017, Defendants issued the Management Information Circular for a Special Meeting of Holders of Common Shares, Options and Restricted Share Units of InterOil Corporation with Respect to an Arrangement Involving InterOil Corporation and Exxon Mobil Corporation, dated January 13, 2017 (the “Information Circular”), which contained material omissions and misstatements concerning the final appraisal well to be drilled prior to commencement of the Interim Resource Certification process and the actual value of the increase in the CRP cap. These omissions and misstatements were material to InterOil shareholders because they directly and significantly impacted the perceived value of the CRP and, thus, prevented InterOil shareholders from accurately valuing the CRP and casting an informed vote on the Acquisition.

On April 10, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on June 18. Defendants filed a Motion to Dismiss the amended Complaint on August 2. On March 15, 2019, the Court issued an Order granting Defendants' Motion to Dismiss. Lead Plaintiff filed a Motion to alter Judgment on April 12. On February 12, 2020, the Court issued an Order denying Lead Plaintiff's Motion. Lead Plaintiff filed a notice on March 13, appealing the Court's Order of Dismissal. Lead Plaintiff dismissed the appeal on June 26.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil & Gas - Integrated
Headquarters: Singapore

SECURITIES INFORMATION:

Ticker Symbol: IOC
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. Texas
DOCKET #: 18-CV-00007
JUDGE: Hon. Barbara M.G. Lynn
DATE FILED: 01/02/2018
CLASS PERIOD START: 01/13/2017
CLASS PERIOD END: 02/22/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bronstein, Gewirtz & Grossman, LLC (New York)
  2. Kendall Law Group, LLP
  3. Robbins Geller Rudman & Dowd LLP (San Diego)
No Document Title Filing Date
COURT: N.D. Texas
DOCKET #: 18-CV-00007
JUDGE: Hon. Barbara M.G. Lynn
DATE FILED: 06/18/2018
CLASS PERIOD START: 01/13/2017
CLASS PERIOD END: 02/22/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bronstein, Gewirtz & Grossman, LLC (New York)
  2. Kendall Law Group, LLP
  3. Robbins Geller Rudman & Dowd LLP (San Diego)
No Document Title Filing Date
—Related District Court Filings Data is not available