The Williams Companies, Inc. Securities Litigation
On or around 03/07/2016 (Notice of voluntarily dismissal)
Filing Date: January 19, 2016
According to the Complaint, it is alleged that the preliminary joint proxy statement/prospectus, which was filed with the SEC on November 24, 2015 (the “Proxy”) to disseminate information in an attempt to convince WMB stockholders to vote in favor of the Merger, contained material misstatements and omissions in connection with the Proposed Transaction. The Proxy failed to adequately disclose information concerning the sales process, the voting process, and strategic review process that the Company, the Board, and its advisors relied upon in recommending and approving the Proposed Transaction. The Proxy does not describe the reasoning or any rationale pertaining to the Board’s vote of approval. The Proxy also fails to sufficiently describe the values and certain terms of the competing offers received during the strategic review process. Without accurate and complete information on these matters, WMB stockholders will be forced to decide whether to vote in favor of the Proposed Transaction without all information necessary to make a fully informed decision.
This case was voluntarily dismissed and closed on March 7, 2016.
Company & Securities Information
Defendant: The Williams Companies, Inc.
Industry: Oil & Gas Operations
Headquarters: United States
Ticker Symbol: WMB
Company Market: New York SE
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.
First Identified Complaint
City of Birmingham Retirement and Relief System, et al. v. The Williams Companies, Inc., et al.