Magnum Hunter Wins Dismissal in 5 of 6 Lawsuits Alleging Mismgmt
This is a “hmmm, that’s interesting” revelation for MDN. Yesterday Magnum Hunter Resources, a driller mostly focused on the West Virginia Marcellus and increasingly Ohio Utica Shale, issued a press release yesterday to say that they’ve been successful in getting five of six “securities class action and shareholder derivative lawsuits” against the company dismissed–without paying a penny to either the plaintiffs or their lawyers. The company is working on a sixth (and last) such lawsuit now. What is a securities class action/derivative lawsuit?…
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One of the Obama administration’s favorite tactics to do illegal end-runs around Congress (remember–Congress writes the laws, the President enforces them) is to have rogue agencies like the Environmental Protection Agency claim sweeping powers under older/existing laws. Like the Clean Air Act. Yesterday the U.S. Supreme Court yanked on the EPA’s leash pretty hard and said, “Heal boy, sit down.” The EPA tried to simply rewrite a law passed by Congress in how the agency treats so-called greenhouse gases. The EPA didn’t like what Congress wrote, so they rewrote it. The justices said, “No, you can’t do that,” to the EPA. However, as Justice Antonin Scalia pointed out from the bench, the EPA still got almost all of what it wanted in this decision…