Drilling Co. Merger Rumor Prompts Investor Suit In Del.

ADVERTISEMENT
Drilling Co. Merger Rumor Prompts Investor Suit In Del.
Law360 (July 27, 2021, 7:29 PM EDT) -- Diamond Offshore Drilling Inc.'s largest stockholder sued the company in Delaware's Chancery Court late Monday to force an annual meeting and board vote, saying the meeting is overdue and citing reports that the company is mulling a potentially conflicted sale to another driller.
Avenue Capital Management LP alleged that Diamond has not held an annual meeting since May 2020 and that it emerged from Chapter 11 in Texas in April with a board now potentially tilted toward the interests of Pacific Investment Management Company, or PIMCO, Diamond's second-largest shareholder after Avenue's 17.2% stake and a substantial investor in merger candidate Noble Corp....

Related Keywords

Delaware ,United States ,Texas , ,Pimco ,Noble Corp ,Pacific Investment Management Company ,Delaware Chancery Court ,Diamond Offshore Drilling Inc ,Offshore Drilling ,Chancery Court ,டெலாவேர் ,ஒன்றுபட்டது மாநிலங்களில் ,டெக்சாஸ் ,உன்னத கார்ப் ,பெஸிஃபிக் முதலீடு மேலாண்மை நிறுவனம் ,டெலாவேர் சான்சரி நீதிமன்றம் ,வைரம் கடல் துளையிடுதல் இன்க் ,கடல் துளையிடுதல் ,சான்சரி நீதிமன்றம் ,