SILVER POINT CAPITAL FUND, L.P. v. RIVIERA RESOURCES, INC.

Index No. 656847/19. Appeal No. 14294. Case No. 2021-01669.

198 A.D.3d 432 (2021)

155 N.Y.S.3d 155

2021 NY Slip Op 05312

Silver Point Capital Fund, L.P., et al., Appellants, v. Riviera Resources, Inc., Respondent.

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

Decided October 5, 2021.


Attorney(s) appearing for the Case

Beys Liston & Mobargha LLP, New York ( Joshua D. Liston of counsel), for appellants.

Kirkland & Ellis LLP, New York ( Stefan Atkinson of counsel), for respondent.

Concur—Webber, J.P., Singh, Scarpulla, Mendez, Rodriguez, JJ.


Plaintiffs, former minority shareholders of defendant, claim that defendant fraudulently induced them to sell it all of their shares in the corporation just three weeks before it announced an asset sale of its most valuable properties, after which share prices soared and defendant made a substantial distribution to shareholders.

Plaintiffs' fraud-based claims are barred by the release in the letter agreement dated August...

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