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  • In re Pattern Energy Group. Inc. Sec. Litig.

    Publication Date: 2023-04-11
    Practice Area: Mergers and Acquisitions
    Industry: Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Sue L. Robinson, Brian E. Farnan, Michael J. Farnan, Farnan LLP, Wilmington, DE; Andrew J. Entwistle, Entwistle & Cappucci LLP, Austin, TX; Vincent R. Cappucci, Arthur V. Nealon, Brendan J. Brodeur, Jonathan H. Beemer, Jessica A. Margulis, Entwistle & Cappucci LLP, New York, NY; Marc M. Seltzer, Krysta Kauble Pachman, Susman Godfrey L.L.P., Los Angeles, CA for plaintiffs.
    for defendant: A. Thompson Bayliss, April M. Ferraro, Christopher Fitzpatrick Cannataro, Abrams & Bayliss LLP, Wilmington, DE; Alan S. Goudiss, K. Mallory Brennan, Sherman & Sterling LLP, New York, NY; Christian E. Myrold, Shearman & Sterling LLP, San Francisco, CA; Matthew D. Stachel, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Jaren Janghorbani, Geoffrey Chepiga, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY for defendants.
    Case Number: 20-275 (MN) (JLH)

    Court hearing claims under §14(a) properly excluded shareholders who sold their stock after the merger approval vote but before closing, since their alleged pecuniary injury did not directly arise from the challenged merger.

  • In re Pattern Energy Group Inc. Sec. Litig.

    Publication Date: 2022-04-12
    Practice Area: Securities Litigation
    Industry: Energy | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Sue L. Robinson, Brian E. Farnan, Michael J. Farnan, Farnan LLP, Wilmington, DE; Andrew J. Entwistle, Entwistle & Cappucci LLP, Austin, TX; Vincent R. Cappucci, Arthur V. Nealon, Brendan J. Brodeur, Jonathan H. Beemer, Jessica A. Margulis, Entwistle & Cappucci LLP, New York, NY; Marc M. Seltzer, Krysta Kauble Pachman, Susman Godfrey L.L.P., Los Angeles, CA for plaintiffs.
    for defendant: A. Thompson Bayliss, April M. Kirby, Abrams & Bayliss LLP, Wilmington, DE; Alan S. Goudiss, K. Mallory Brennan, Shearman & Sterling LLP, New York, NY; Christina E. Myrold, Shearman & Sterling LLP, San Francisco, CA for defendants.
    Case Number: D69781

    Motion to dismiss Exchange Act violations denied where plaintiffs plausibly alleged that defendant board had acknowledged that a competing merger offer constituted a better value and would provide stockholders with a higher price, and knew at the time of voting to approve another offer that the competing bidder was willing to continue discussing more favorable terms of merger.

  • Lord Abbett Affiliated Fund v. Navient Corp.

    Publication Date: 2019-02-20
    Practice Area: Securities Litigation
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Patrick F. Morris, Karen L. Morris and R. Michael Lindsey, Morris and Morris LLC, Wilmington, DE; Ste-ven E. Fineman, Daniel P. Chiplock, Michael J. Miarmi, Richard M. Heimann, Bruce W. Leppla and Sha-ron M. Lee, Liefe Cabraser Heimann & Bernstein, New York, NY for plaintiffs.
    for defendant: Kelly E. Farnan, Richards Layton & Finger, P.A., Wilmington, DE; Peter A. Wald, Abid R. Qureshi, Christopher S. Turner and Christopher R. Harris, Latham & Watkins LLP, Washington, DC for Navient Corp. and individual defendants. Kevin G. Abrams and John M. Seaman, Abrams & Bayliss LLP, Wil-mington, DE; Adam S. Hakki, Daniel C. Lewis and Anthony D. Marinello of Shearman & Sterling LLP for underwriter defendants.
    Case Number: D68465

    Plaintiffs adequately stated claims for securities violations, except with regard to statements that were mere puffery and where plaintiffs failed to demonstrate scienter.