UPDATE 1-Offshore firm EnVen co-founder exits, sues company citing misconduct [Reuters]
Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B)
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Source: Reuters
Offshore firm EnVen co-founder exits, sues company citing misconduct - Reuters 2 Min Read DENVER (Reuters) - An EnVen Energy Corp co-founder claims the chief executive of the offshore oil and gas producer provided misleading production and financial data to the board and forced him out as president, according to a lawsuit in a Texas court. David Dunwoody alleges CEO Steve Weyel and other company employees inflated production forecasts presented to its board of directors to influence 2018 and 2019 budgets, according to the lawsuit filed this month and made public on Wednesday. EnVen declined to comment on pending litigation. Weyel did not respond to requests for comment. A 2018 management forecast given to the board included production from third-party assets not owned by EnVen, and a 2019 outlook excluded expected downtime from a major production asset, the lawsuit said. Weyel, also a co-founder, might have misled the board about 2019 costs associated with the firm’s offices in Housto
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