After years of intense litigation, a case pitting PDC Energy against a group of investors who claimed they were “duped” into approving a cash-out merger of their interests in 12 oil and gas limited partnerships for a fraction of their true value was finally resolved.
A class composed of more than 7,000 limited partners who had invested in the O&G limited partnerships sponsored by PDC Energy (formerly Petroleum Development Corp.) recently succeeded in reaching a multimillion-dollar settlement with the Colorado-based independent O&G company. The law firms of Susman Godfrey and co-counsel Foley, Bezek, Behle & Curtis and Goode Wildman recently obtained final approval for a $37.5 million class action settlement in Schulein v. Petroleum Development.
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