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HANEY v. DELTA PETROLEUM CO., INC.

No. 2001-CA-0636.

811 So.2d 1200 (2002)

Mark W. HANEY, Robert L. Haney, Jr., Ellis P. Carter, Mary Carter Stokes, Martin C. Carter, Jr., David A. Carter, Pamela Carter Cabiro, Marcelle Carter LeBlanc, and Ronald T. Carter v. DELTA PETROLEUM COMPANY, INC., Delta Rocky Mountain Petroleum, Inc., Paul B. Maxwell, W. Hampton Maxwell and Thomas A. Maxwell.

Court of Appeal of Louisiana, Fourth Circuit.

Rehearing Denied April 16, 2002.

Attorney(s) appearing for the Case

Arthur A. Lemann, III, New Orleans, LA, and Roy Raspanti, Metairie, LA, for Plaintiffs/Appellants.

Andrew C. Littman, Stevens, Littman & Biddison, LLC, Boulder, CO, and Russ M. Herman, Leonard A. Davis, Herman, Herman, Katz & Cotlar, L.L.P., New Orleans, LA, for Defendants/Appellees.

(Court composed of Judge STEVEN R. PLOTKIN, Judge JAMES F. McKAY, III, Judge MICHAEL E. KIRBY).

JAMES F. McKAY, III, Judge.

The stock sale that is the subject of this litigation was consummated on December 31, 1983 in response to a tender offer by Delta Petroleum Company, Inc. (Delta). The plaintiffs, who are former shareholders of Delta, alleged that they received inadequate consideration for the shares they tendered. The lawsuit was originally brought against Delta, its subsidiary, Delta Rocky Mountain Petroleum, Inc. (DRMP), as well as a former shareholder...

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