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TXO and the Truth about that Court case in New York

By Newt Seaman | Sunday 2 November 2014


Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Having seen how warmly received  my last article  about this wonderful AIM investment company was, I have been itching to do another one, but wanted to wait to see the outcome of the “Smart Win” summary judgement hearing which took place in New York on Thursday.  The side that TXO (TXO) is on – Empire Energy is the defendant, but has a counter claim for $3 billion.  Tacky US legal tactic: you sue me for $Ms, I countersue for $Bns, you back down and drop the whole thing, or we spend ages and loads of money on lawyers creating a complete pantomime, which just makes the highly principled and well intentioned US legal system look like the Keystone Kops.


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