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Spectra Energy Corp.

Case Summary

Spectra Energy Corp. Securities Litigation

Case Summary

Case Status:    DISMISSED    
On or around 03/06/2017 (Court's order of dismissal)

Filing Date: October 10, 2016

According to the Complaint, On September 6, 2016, Spectra and Enbridge announced in a joint press release that they had entered into an Agreement and Plan of Merger dated September 5, 2016 (the “Merger Agreement”). According to the Merger Agreement, Enbridge would acquire all of the outstanding shares of Spectra common shares in an all-stock transaction (the “Proposed Transaction”) for 0.984 of a Enbridge common share per Spectra common share (the “Merger Consideration”) for a value of $40.33 per share based on the September 2, 2016 Enbridge closing price of $40.99.

The Complaint alleges given Spectra’s recent strong performance, as well as its future growth prospects, the consideration shareholders will receive is inadequate and undervalues the Company.

On March 6, 2017, this case was voluntarily dismissed.

Company & Securities Information

Defendant: Spectra Energy Corp.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil & Gas Operations
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SE
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

Mary Lincoln, et al. v. Spectra Energy Corp., et al.

COURT: S.D. Texas
DOCKET #: 16-CV-03019
JUDGE: Hon. Keith P Ellison
DATE FILED: 10/10/2016
CLASS PERIOD START: 09/06/2016
CLASS PERIOD END: 10/10/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky (Stamford)
    733 Summer Street, Suite 304, Levi & Korsinsky (Stamford), CT 06901
    203-992-4523 ·
  2. The Bilek Law Firm, L.L.P.
    808 Travis, Suite 802, The Bilek Law Firm, L.L.P., TX 77002
    713.227.7720 713.227.7720 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint 10/10/2016
2 Order on Unopposed Joint Motion To Consolidate and Merge Actions 12/27/2016
3 Order of Dismissal on Notice 03/06/2017
4 Notice of Dismissal 03/06/2017
5 U.S. District Court Civil Docket 03/06/2017
 
 

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