ERHC Energy Inc (ERHE)

[amj23]

the lawsuit was not brought because the shareholder's did not think it was fair, it was that Hammons made the deal and wanted to keep certain properites for himself. ruling was since the offer was more than fair, he had the legal right to keep those properties. the minority received what they would have anyway regardless of the properties heldout. also, a "special committee" was put in place to protect the minority and they could not dispute the fair value.

in the case of oil companies, you would have the nsai and a special committee should be in place if there was going to be this kind of deal to confirm fairness of offer.