On or around 08/29/2017 (Other)
Filing Date: March 23, 2017
According to the Complaint, on January 25, 2017, AltaGas Ltd. (“AltaGas”) and the Company announced that they had entered into a definitive agreement on January 25, 2017 (“Merger Agreement”) under which AltaGas will acquire all of the outstanding shares of WGL in an all-cash transaction (the “Proposed Transaction”). If consummated, WGL stockholders will receive $88.25 in cash for each share of WGL stock that they own (“Merger Consideration”). The Proposed Transaction was valued at approximately $6.4 billion at the time of the announcement.
The Complaint alleges on March 10, 2017, Defendants issued materially incomplete and misleading disclosures in the Form PREM14A Preliminary Proxy Statement (the “Proxy”) filed with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction.
Pursuant to a stipulation by the parties, this case was ordered dismissed on June 7, 2017.
Company & Securities Information
Defendant: WGL Holdings, Inc.
Industry: Natural Gas Utilities
Headquarters: United States
Ticker Symbol: WGL
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
Lisa Jackson, et al. v. WGL Holdings, Inc., et al.