Repsol faces further US backlash

Spanish energy giant Repsol and its Chairman are facing US litigation from investors in Repsol YPF. This proves yet another setback for Repsol, currently arbitrating against Argentina over its controversial decision to renationalise YPF, but with the twist of personal actions against its Board members.

Repsol is one of a number of defendants named in the US action, together with YPF and underwriters including Credit Suisse, Goldman Sachs and Morgan Stanley. But, most notably, the case is also directed personally against Antonio Brufau, Chairman and CEO, and fifteen other Board members.
US law firm Robbins Geller Rudman & Dowd has initiated a class action for investors from the Monroe County Employees’ Retirement System, who bought shares in YPF’s 2011 IPO. They claim that YPF failed to properly report the risk of expropriation ahead of its 2011 $1bn-plus offering to US investors.
The class action also is open to similar investors, which could yet bring a wave of further law suits against the Spanish giant and its members.

Repsol faces further US backlash

Garcia-Sicilia

iberianlawyer.com

Iberian Lawyer, is a monthly digital magazine, published by LC Publishing, available in Spanish and English. It represents the main source of information in the legal business sector in Spain and Portugal. The digital magazine – and its portal – address to the protagonists of law firms and in-house lawyers. The magazine is available for free on the website and on Google Play and App Store.

In every issue of the magazine, you will find rankings of lawyers, special report on trends, interviews, information about deals and their advisors.

For further information, please visit the Group’s website www.lcpublishinggroup.com

Iberian Lawyer
Registered office: C/ Manuel Silvela, 8 - Oficinas 1 Dcha 28010 Madrid España

Copyright 2022 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram