WARBERG OPPORTUNISTIC TRADING FUND L.P. v. GeoRESOURCES, INC.

652332/12-3553A. 3553. 3552.

151 A.D.3d 465 (2017)

2017 NY Slip Op 04537

58 N.Y.S.3d 1

WARBERG OPPORTUNISTIC TRADING FUND L.P. et al., Appellants-Respondents, and WATERSTONE CAPITAL MANAGEMENT, L.P., Respondent, v. GEORESOURCES, INC., Respondent-Appellant. WARBERG OPPORTUNISTIC TRADING FUND L.P., et al., Respondents-Appellants, and WATERSTONE CAPITAL MANAGEMENT, L.P., Respondent, v. GEORESOURCES, INC., Appellant-Respondent.

Appellate Division of the Supreme Court of New York, First Department.

Decided June 8, 2017.


This appeal concerns a pool of warrants to purchase shares in defendant GeoResources. The warrants, which were issued in June 2008, gave their holders the right to purchase a specified number of shares at any time from six months after the purchase date until June 9, 2013, at an exercise price of $32.43 per share. Each warrant included "anti-dilution" provisions, which were intended to protect the holder's investment in the event that defendant issued or sold stock, or took...

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