Finance/Companies news briefs, Nov. 28
Crown Central Petroleum � PYR Energy � Infinity
A potential class action suit against Crown Central Petroleum Corp. was derailed last week after a federal judge denied an attempt to certify a class in a discrimination case, said Crown Central Monday. The discrimination case, filed by eight Crown employees, alleges racial and sexual discrimination and harassment. Judge Richard A. Schell, chief judge of the Eastern District of Texas, held that a class action was an inappropriate method for handling the case. The cases will be tried separately. Crown denies the discrimination allegations.
PYR Energy Corp., Denver, Colo., has acquired an additional 1.544% in the East Lost Hills gas exploration project in the San Joaquin basin of California, bringing its holding to 12.1193%. The area covers 30,000 acres.
Infinity Inc. has acquired leases on another 2,500 acres of coalbed methane property in its Pipeline project in the Greater Green River Basin in Wyoming, bringing its total holdings in the project to 19,900 acres. Infinity will have an 82.5% net revenue interest and an initial 100% working interest in the additional property. The lessor of the property has the right to participate in a working interest of not more than 25% of the project. Other terms were not disclosed.