Case Page

 

Case Status:    ONGOING    
On or around 01/04/2018 (Ongoing date of last review)

Filing Date: January 04, 2018

According to the Complaint, Stone Energy operates as an independent oil and gas company. The Company acquires, explores, develops, and operates oil and gas properties onshore and offshore in the Gulf Coast Basin.

On November 21, 2017, Stone and Talos issued a joint release announcing the entry into a Transaction Agreement (the “Transaction Agreement”) by and among the Company, Talos, Sailfish Energy Holdings Corporation (“New Talos”), Sailfish Merger Sub Corporation (“Merger Sub”), and Talos Production LLC, pursuant to which Talos and the Company will both become wholly owned subsidiaries of a new holding company, Talos Energy, Inc. (“Talos Energy”), which at closing will become a publicly traded entity. Pursuant to the terms of the Transaction
Agreement, Stone’s public common stockholders will receive one share of New Talos in exchange for each share of Stone they own (the “Merger Consideration”). The Proposed Transaction is valued at approximately $2 billion.

The Complaint alleges that on December 29, 2017, in order to convince Stone’s stockholders to vote in favor of the Proposed Transaction, Defendants authorized the filing of a materially incomplete and misleading Form S-4 Registration Statement (the “S-4”) with the Securities and Exchange Commission (“SEC”), in violation of Sections 14(a) and 20(a) of the Exchange Act.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil & Gas - Integrated
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SGY
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: D. Delaware
DOCKET #: 18-CV-00054
JUDGE: Hon. Gregory M. Sleet
DATE FILED: 01/04/2018
CLASS PERIOD START: 11/21/2017
CLASS PERIOD END: 01/04/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cooch & Taylor, P.A.
    The Brandywine Building; 1000 West Street, 10th Floor, Cooch & Taylor, P.A., DE 19801
    302.984.3800 302.984.3939 ·
  2. Monteverde & Associates PC
    350 Fifth Avenue, 59th Floor, Monteverde & Associates PC, NY 10118
    (212) 971-1341 ·
No Document Title Filing Date