Such A Deal – Not, Investor Says

HOUSTON (CN) - A longtime friend of Devon Energy Holdings CEO Trevor Rees-Jones claims that Rees-Jones persuaded him to sell his 6% share of the company, which Rees-Jones said was worth only $138 million, and that Rees-Jones then sold the company for $2.6 billion, of which Rees-Jones got $1.5 billion.

Devon was formerly known as Chief Holdings, plaintiff Bobbitt Noel says in his securities fraud claim in Harris County Court.

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