Case Page

 

Case Status:    ONGOING    
On or around 09/26/2017 (Ongoing date of last review)

Filing Date: September 25, 2017

On July 19, 2017, Avista and Hydro One issued a joint press release announcing that they had entered into a definitive merger agreement (the “Merger Agreement”), under which Olympus Holding Corp. (“US Parent”), an indirect, wholly owned subsidiary of Hydro One, and Olympus Corp., an indirect, wholly owned subsidiary of Hydro One (“Merger Sub”), would acquire all of Avista’s outstanding stock for $53.00 per share in cash (the “Merger Consideration”).

The Complaint alleges that on September 14, 2017, Avista filed a materially misleading Proxy with the SEC. According to the Complaint, the Proxy is rendered materially misleading by the omission of critical information concerning: (i) BofA Merrill Lynch’s financial analyses conducted in preparing its fairness opinion; and (ii) Avista’s financial projections; as such, the Proxy, which recommends that the Company’s stockholders vote their shares in support of the Proposed Transaction, misrepresents and/or omits material information in violation of Sections 14(a) and 20(a) of the Exchange Act.

COMPANY INFORMATION:

Sector: Utilities
Industry: Electric Utilities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: AVA
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: E.D. Washington
DOCKET #: 17-CV-00333
JUDGE: Hon. Stanley A Bastian
DATE FILED: 09/25/2017
CLASS PERIOD START: 07/19/2017
CLASS PERIOD END: 09/25/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Breskin Johnson Townsend PLLC
    1111 Third Avenue, Suite 2230, Breskin Johnson Townsend PLLC, WA 98101
    206.652.8660 206.652.8660 ·
  2. Levi & Korsinsky LLP (DC)
    1101 30th Street, NW; Suite 115, Levi & Korsinsky LLP (DC), DC 20007
    ·
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