Panel Upholds Dismissal Of Investor Claims In Drilling Company Acquisition Suit

Mealey's (August 21, 2020, 9:59 AM EDT) -- NEW ORLEANS — A federal district court correctly dismissed shareholder claims against a technology provider for the drilling, servicing and completion of wells for the upstream energy industry, its board and the company with which it merged because the lead plaintiff failed to sufficiently state a claim upon which relief may be granted, a Fifth Circuit U.S. Court of Appeals panel ruled Aug. 19 in affirming (Norman Heinze v. Tesco Corp, et al., No. 19-20298, 5th Cir., 2020 U.S. App. LEXIS 26430)....