Andrews & Springer LLC filed a class action and derivative complaint on behalf of public stockholders of Erin Energy, Inc. (“Erin Energy”) and derivatively on behalf of nominal defendant Erin Energy in the Delaware Court of Chancery, Case No. 11963-VCMR.

The complaint alleges that Erin Energy’s CEO and controlling shareholder Kase Lukman Lawal forced the Company to buy mineral leases in sub-Saharan Africa and paid as much as $416 million for assets worth only $217.3 million. The company reaping a majority of the benefits from the deal was Allied Energy Plc, a company controlled by Lawal.

Please click here for a copy of the Public Version of the Complaint.