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Jones Walker Secures Victory for Superior Energy Services, Inc.
January 26, 2011

LeeRadlauerThe Texas Court of Appeals, 14th District, has affirmed a summary judgment victory Jones Walker secured on behalf of Warrior Energy Services Corporation, a subsidiary of Superior Energy Services, Inc. The case involved a successful public stock offering by Warrior Energy in 2006. Warrior conducted the offering in part to buy out the plaintiff investors who had agreed to sell their interests several months earlier. They asserted that Warrior mishandled the offering and made misrepresentations moments before accepting the share price offered by the underwriters. The plaintiffs sought over $60 million in damages.

Just prior to the commencement of a scheduled multi-week jury trial, the trial court granted Warrior's summary judgment motion, dismissing all of the plaintiffs' claims against the company. In its November 9, 2010, decision affirming the dismissal, the court of appeals stated that "Warrior proved as a matter law that it complied with its contractual obligations" to the plaintiffs. The court of appeals also stated that the alleged misrepresentations occurred after the plaintiffs had contractually agreed to sell their interests and "could not be the 'means' by which Warrior offered to buy or bought appellants' interests in Warrior." The case is reported at 1993 GF Partnership, et al v. Simmons & Co. Int'l and Warrior Energy Services Corp., 2010 Tx. App. LEXIS 8903 (Tex. Ct. App. 14 Dist. Nov. 9, 2010). Jones Walker partners David G. Radlauer and Andrew R. Lee handled the matter at the trial and appellate courts on Warrior's behalf.