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Case Status:    DISMISSED    
On or around 03/02/2017 (Other)

Filing Date: January 19, 2017

According to the Complaint, on October 22, 2016, AT&T and the Company announced they had entered into an Agreement and Plan of Merger dated October 22, 2016 (“Merger Agreement”), by which AT&T, through its wholly owned subsidiary, West Merger Sub, Inc. (“Merger Sub”), will acquire all of the outstanding shares of Time Warner in a stock-and-cash transaction valued at $107.50 per share (the “Proposed Transaction”).

On January 9, 2017, Time Warner filed a definitive proxy statement on a Schedule 14A (the “Proxy”) with the SEC, which set the stockholder vote date on the Proposed Transaction for February 15, 2017. The Complaint alleges the Proxy is materially deficient and misleading because it fails to disclose material information regarding GAAP reconciliation of the non-GAAP financial measures contained in the Company’s projections, which were prepared by Company management and relied upon by Allen & Company LLC (“Allen”), Citigroup Global Markets Inc. (“Citi”), and Morgan Stanley & Co. LLC (“Morgan Stanley”), the Company’s financial advisors.

On February 3, 2017, the Court issued an Order consolidating cases. The Consolidated Cases shall be identified as: "In re Time Warner, Inc. Shareholder Litigation."

Pursuant to a Stipulation by the parties, this case was ordered dismissed on February 17, 2017.


Sector: Services
Industry: Broadcasting & Cable TV
Headquarters: United States


Ticker Symbol: TWX
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.
COURT: S.D. New York
DOCKET #: 17-CV-00399
JUDGE: Hon. Jesse M. Furman
DATE FILED: 01/19/2017
CLASS PERIOD END: 01/19/2017
  1. Levi & Korsinsky, LLP
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available