Skadden secured a dismissal with prejudice for Anadarko Petroleum Corp. of a shareholder derivative action brought in connection with the Deepwater Horizon oil spill in the Gulf of Mexico. The plaintiffs alleged Anadarko’s board of directors and certain officers and former directors breached their fiduciary duties and were liable for billions of dollars in losses to the company arising out of its investment as a non-operator in the Macondo well. On June 20, Judge Robert Schaffer of the 152nd District Court for Harris Country, Texas, dismissed the case in its entirety.
Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates