The gist: Armed with a $72 million judgment against two former executives at one of its Lafayette-based subsidiaries, oilfield services giant Superior Energy is making it clear it wants the name of one of those execs stripped from the UL baseball complex.
Stabil Drill
Russo loses attempt to invoke 5th in Stabil Drill suit
▸ The gist: Former Stabil Drill executive Chris Russo suffered a major setback a few days ago when a Texas appellate panel shot down his attempt to invoke the Fifth Amendment to avoid turning over a cache of emails to Superior Energy Services. Superior sued Russo and another top executive in 2016 for tens of millions of dollars, alleging the duo masterminded an elaborate scheme to defraud the company.
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Russo asks for new trial, claims Superior turned blind eye to activities
In a motion for a new trial filed late last week, attorneys for Chris Russo say there is ample evidence his former employer’s parent company, oilfield services giant Superior Energy, knew about Russo’s side business interests and therefore has no right to recover damages and profits.