Newbridge Resources Group LLC prevailed in a lawsuit brought by its former chief executive officer, who accused the energy company and officers of terminating him and purposefully manipulating the process to acquire his stake at an unfair price.
Former Newbridge CEO Scott Wood helped co-found the company in 2019 and had a 50% ownership stake, with 50% owned by K-4 Oil LLC.
In 2020, the board terminated Wood as CEO of the company without cause, and K-4 notified him that it would exercise its call option rights to acquire his interests in the company. The board selected Mercer Capital to ...
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