Shareholders of Black Elk Energy LLC sued company directors for alleged mismanagement that caused hundreds of safety violations leading up to the fatal explosion at its oil platform last fall, according to a lawsuit filed in Texas state court on Jan. 8 (Andrus v. Hoffman).
The lawsuit, filed in Texas District Court for Harris County, claimed gross mismanagement and breach of fiduciary duty on the part of Black Elk Energy President and CEO John C. Hoffman and an array of investment organizations. The alleged negligent management did millions of dollars in harm to the company, and the directors ...
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