Before the Merger, EarthLink Holding Corp. was a network services company.
According to the Complaint, on November 7, 2016, EarthLink and Windstream announced the Merger.
On January 24, 2017, Defendants jointly filed and disseminated the Proxy Statement. On February 14, 2017, Defendants jointly filed and disseminated the Proxy Supplement.
The Complaint alleges that Defendants made misleading statements in the Proxy Statements issued in
connection with the merger, in violation of §14(a) of the 1934 Act and Rule 14a-9 promulgated thereunder, §20(a)
of the 1934 Act, and §§11 and 15 of the 1933 Act.
On June 22, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. On July 27, Lead Plaintiff filed an amended Complaint. Defendants filed a Motion to Dismiss the amended Complaint on September 13.
On February 26, 2019, one of the Defendants filed a Notice of Bankruptcy.
On May 27, 2021, the Court issued an Order granting leave for the Lead Plaintiff to amend the Complaint and denying Defendants' Motion to Dismiss as moot. Lead Plaintiff filed a second amended Complaint on the same day. Defendants filed a Motion to Dismiss the second amended Complaint on July 15. On June 30, 2023, the Court issued an Order denying Defendants' Motion to Dismiss.
On September 4, 2024, the parties entered into a Stipulation of Settlement. The Court granted preliminary approval of the Settlement on October 16. On February 6, 2025, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.