Case Page

 

Case Status:    DISMISSED    
On or around 05/19/2011 (Stipulation and order of dismissal (voluntary dismissal))

Filing Date: February 07, 2011

According to the complaint filed February 7, 2011, plaintiff alleges that defendants have provided materially incomplete information to Whitney shareholders, inhibiting their ability to make an informed decision concerning the Sale Agreement. Plaintiff also alleges that in agreeing to the Sale Agreement, Whitney Chairman of the Board and Chief Executive Officer sought to protect and advance his own interests at the expense of Whitney's public shareholders. Plaintiff also alleges that through the process by which they caused Whitney to enter into the Sale Agreement, Whitney directors breached and are continuing to breach their fiduciary duties of care, good faith, loyalty and candor.

On March 4, 2011, the defendants filed a motion to dismiss the Class Action Complaint.

On April 20, 2011, the Court issued an order consolidating the action with civil docket number 11-CV-00794.

On May 5, 2011, the Court issued an Order dismiss the action based on the parties voluntary agreement pending an anticipated settlement in a related state court proceeding.

On May 19, 2011, the parties field a Notice of Voluntary Dismissal based on a settlement in a related proceeding in state court.

COMPANY INFORMATION:

Sector: Financial
Industry: Regional Banks
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: WTNY
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. Louisiana
DOCKET #: 11-CV-00256
JUDGE: Hon. Jay C. Zainey
DATE FILED: 02/07/2011
CLASS PERIOD START: 12/22/2010
CLASS PERIOD END: 02/07/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Smith & Fawer, LLC
    201 St. Charles Avenue, Suite 3702, Smith & Fawer, LLC, LA 70170
    504-525-2200 504-525-2205 ·
  2. The Brualdi Law Firm (New York)
    29 Broadway - Suite 1515, The Brualdi Law Firm (New York), NY 10006
    877.495.1187 212.952.0608 ·
No Document Title Filing Date