Blackstone’s ‘Rushed’ $788M Sale of Energy Company Kicks Off Docket of Dallas Business Court

In a moment of Texas litigation history, the state’s new business court heard oral arguments Thursday in Dallas in a lawsuit by minority investors over what they’ve called the “rushed” $788 million sale of an energy company at a price well below its fair value.

The minority investors filed suit in May 2022 in state district court in Dallas, alleging that the August 2021 sale effectively rendered their roughly $200 million in investments “almost totally worthless, while generating hundreds of millions of dollars” for Blackstone Inc., one of the world’s largest private equity firms.