An investor group led by asset recovery funder Drumcliffe LLC has purchased 1,138,245 shares in Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) (“Odyssey”), from Epsilon Acquisitions LLC in a private transaction exempt from the registration requirements of the Securities Act of 1933, as amended.
Eni, the Italian energy company, was recently given court approval to subpoena companies accused of taking part in the Nigeria OPL 245 scandal. This is expected to include asset recovery companies as well as litigation funders. Previously, Eni suggested that the government had taken action under pressure from third parties who are hoping to profit illegally.
A case between the Nigerian government and oil giants Eni And Shell is still underway. The issue is OPL245, and an allegedly corrupt deal made in 2011. While everyone involved maintains that their actions were legal, prosecutor Fabio de Pasquale and the Federal Republic of Nigeria are looking to prove otherwise.
