The lawsuit claims: "Barnett and Jones have grossly withheld facts regarding and fraudulently misrepresented Barnett's business background. Barnett has failed as an investment advisor... Barnett has a grossly inadequate college educational background in finance and in the oil production industry for his position as Chairman and once or twice CEO of OMDA Oil & Gas Inc. He has participated in... hostile takeovers and has a litigious civil and criminal background."
The lawsuit also states: "Barnett's 'oil experience' was being a 'cook' at 'Outback Steakhouse and Bennigans.' Operating an oil cooker for fried foods... is stellar qualifications to being a 'Chairman' of OMDA Oil and Gas, Inc. (Source: Barnett's March, 2006 sworn deposition in a Houston, Texas Dist Court Case)."