A group of investors in Black Elk Energy LLC recently voluntarily dismissed a lawsuit filed in the District Court of Harris County, Texas, which alleged company executives violated their agreement with shareholders regarding the sale of a subsidiary.
The action marks the second time the suit has been dismissed, having originally been filed regarding the same claims in 2011. The first suit was dismissed earlier this year because provisions in the shareholder agreement stated that such a lawsuit must be filed in New York.
The 14th District Court of Appeals dismissed the investors' appeal of the first-filed suit, following the investors' voluntary motion for dismissal Tuesday.
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