May 21 (Reuters) - Oil producer Hess on Tuesday
said it is currently facing three lawsuits alleging inadequate
disclosures over its proposed sale to Chevron ( CVX ).
Chevron ( CVX ) last October offered to acquire Hess in a move to
gain a foothold in oil-rich Guyana's lucrative offshore fields.
However, the deal has been stalled due to a conflict with Exxon
Mobil ( XOM ) and pending regulatory approval by the Federal
Trade Commission.
All three lawsuits seek to further delay or block the $53
billion deal. Hess shareholders are scheduled to vote on May 28
on the deal.
The allegations regarding deficiency in disclosures "are
without merit", the company said in a securities filing on
Tuesday, but added that it was voluntarily supplementing the
proxy statement "to moot plaintiffs' disclosure claims and to
avoid nuisance, potential expense and delay".
In addition to these lawsuits, several purported
stockholders of Hess have sent demand letters alleging similar
deficiencies.