HOUSTON, Feb. 4, 2013 /PRNewswire/ -- Former National Oil Well Varco (NYSE:NOV) Area Manager Royce Binnion has disclosed a wrongful termination claim in a Federal bankruptcy court alleging widespread misconduct by the world's largest supplier of drill pipe.
According to the claim Binnion says, "I believe I was terminated for bringing to the attention of my superiors at National Oil Well Varco the fact that the company was knowingly and consistently using faulty equipment to inspect drill pipe, employing non-certified inspectors to operate the inspection equipment, and falsifying documents to show pipe passed inspection when it actually failed. I was instructed to ship faulty pipe as good product. Could there be billions of feet of faulty pipe out there on oil rigs around the world? I don't know. I do know NOV will do anything to stop me from talking about what I witnessed, even going so far as to sue me in civil court and accuse me of financial fraud. These claims will be proved baseless in court. I now have the District Attorney's office looking at me when they should be investigating NOV."
Drill pipe is attached to the drill bit and used to pump mud into the hole being dug and then transport product out of the ground and into the drilling platform. Drill pipe is continually under extreme pressure on the interior and exterior of the pipe. Failure of drill pipe can create catastrophic results onshore and offshore. "When Royce Binnion originally tried to alert his superiors as to the inspections problems at NOV, they fired back using all of their power and resources with termination and a civil lawsuit against him," says Binnion's attorney Steve Shellist. "NOV and their lawyers have crippled my client financially to the point of forcing him to file personal bankruptcy. Royce Binnion has disclosed a wrongful termination claim against NOV in bankruptcy court. He is hopeful that the courts will see this for what it really is."
Mr. Shellist is a founding partner of Capitaine, Shellist, Peebles and McAlister, L.L.P. The firm is comprised of four former assistant district attorneys that represent clients facing criminal charges needing aggressive representation.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV