A possible money wrench has been thrown into the plans of billionaire Harold Hamm to take his Continental Resources oil and gas company back private.
A class-action lawsuit has been filed by a company shareholder who contends the $70 a share offer made by Hamm in June is too low—way too low. Since Hamm presented his offer to Continental’s Board of Directors, Continental shares have dropped to as low as about $65 but on Wednesday, prices finished the day down 24 cents or 0.34% to settle at $69.83.
Continental shares fell again in Thursday’s trading, dropping 2.12% or $1.48 to settle at $68.35.
The Oklahoman reported this week on the lawsuit filed by Walter T. Doggett against Hamm.
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