ROBERT LENOIS, on behalf of himself and all other similarly situated stockholders of ERIN ENERGY CORPORATION, and derivatively on behalf of ERIN ENERGY CORPORATION, Plaintiff,
v.
KASE LUKMAN LAWAL, LEE P. BROWN, WILLIAM J. CAMPBELL, J. KENT FRIEDMAN, JOHN HOFMEISTER, IRA WAYNE McCONNELL, HAZEL R. O'LEARY, and CAMAC ENERGY HOLDINGS, LIMITED, Defendants, and
ERIN ENERGY CORPORATION, Nominal Defendant.
Court of Chancery of Delaware.https://leagle.com/images/logo.png
Gregory V. Varallo , RICHARDS, LAYTON & FINGER, P.A., Wilmington, Delaware; J. Wiley George , ANDREWS KURTH LLP, Houston, Texas; Attorneys for Defendants John Hofmeister, Ira Wayne McConnell, and Hazel R. O'Leary.
David J. Teklits and Kevin M. Coen , MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; Mark Oakes and Ryan Meltzer , NORTON ROSE FULBRIGHT US LLP, Austin, Texas; John Byron , NORTON ROSE FULBRIGHT US LLP, Houston, Texas; Attorneys for Defendants Lee P. Brown, William J. Campbell, J. Kent Friedman and Nominal Defendant Erin Energy Corporation.
MEMORANDUM OPINION
MONTGOMERY-REEVES, Vice Chancellor.
This case arises out of transactions between an oil and gas exploration company (Erin Energy Corporation, "Erin" or the "Company"), its controller (Kase Lukman Lawal),1 a controller-affiliated company (Allied Energy Plc, "Allied"), and a third-party entity...
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