First Niagara Financial Group, Inc. ("First Niagara") and its subsidiaries are engaged in providing financial services to individuals and businesses in the northeast of the United States.

According to the Complaint, it is alleged that the Proxy contains incomplete and materially misleading information regarding the process leading to the consummation of the Merger Agreement, including: (i) the process leading to the Proposed Transaction, (ii) the financial analyses conducted by J.P. Morgan Securities LLC, financial advisor to First Niagara, and (iii) the projections used by J.P. Morgan in those analyses. Perhaps most notably, the Proxy fails to disclose any information whatsoever regarding the identity of or analyses performed by a private consultant hired by the Board to assess the Company’s standalone value and upon whom the Board specifically relied in deciding to sell the Company.

This case was ordered dismissed pursuant to a Stipulation between the parties on March 21, 2016.