Atlas Energy Solutions Defends Restructuring After Its IPO (1)

Atlas Energy Solutions Inc.'s Class A shareholders held the same economic stake before and after its restructuring in 2023, undermining an investor’s claims the transaction benefited corporate insiders, the company’s attorneys argued Tuesday in a Delaware court.

The company seeks to dismiss a complaint that brings shareholder derivative claims on Atlas’s behalf as well as class action claims on behalf of the stockholders. The challenge fails to even detail how to determine the size of the tax benefits allegedly transferred to Atlas’s controlling stockholder, Texas oil tycoon Ben “Bud” Brigham, and other directors, the company’s attorney, Jeffrey Crough of Vinson ...