O’Melveny Represents Synthesis Energy in Fraud Suit Settlement
The April 5, 2012, Law360 article “Energy Co. Reaches Deal To Exit Developer's $100M Fraud Suit,” reports on O’Melveny & Myers LLP’s representation of Texas energy company Synthesis Energy’s US$100 settlement with the owner of Olen Properties Corp. over alleged misrepresentation of investment opportunities.
According to Law360, “after nearly five years of litigation, [the court] has dismissed with prejudice its claims against Synthesis Energy Systems Inc. and three of its former executives over losses resulting from investments UBS funneled into the then-struggling energy technology company.”
The case is Olenicoff et al. v. UBS AG et al., case number 8:08-cv-01029, in the U.S. District Court for the Central District of California.
April 6, 2012