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Case Status:    ONGOING    
On or around 09/04/2018 (Ongoing date of last review)

Filing Date: July 05, 2018

According to the Complaint, Vectren Corporation ("Vectren" or the "Company") is an energy holding company of wholly owned subsidiary, Vectren Utility Holdings, Inc. (“VUHI”), which serves as the intermediate holding company for three public utilities: Indiana Gas Company, Inc. (“Indiana Gas”), Southern Indiana Gas and Electric Company (“SIGECO”), and Vectren Energy Delivery of Ohio, Inc. (“VEDO”).

On April 21, 2018, the Board caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with the CenterPoint Energy, Inc., pursuant to which, Vectren shareholders will receive $72.00 in cash for each share of common stock they own (the “Merger Consideration”).

The Complaint alleges that on June 18, 2018, the Board authorized the filing of a materially incomplete and
misleading proxy statement (the “Proxy”) with the Securities and Exchange Commission (“SEC”), in violation of Sections 14(a) and 20(a) of the Exchange Act. The Proposed Transaction is expected to close no later than the first quarter of 2019, with the shareholder vote occurring before then.

The Complaint alleges that, specifically, the Proxy contains materially incomplete and misleading information concerning: (i) the Company’s financial projections; (ii) the valuation analyses performed by the Company’s financial advisor, in support of its fairness opinions; and (iii) the Background of the Merger.

COMPANY INFORMATION:

Sector: Utilities
Industry: Natural Gas Utilities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: VVC
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. Indiana
DOCKET #: 18-CV-00113
JUDGE: Hon. Richard L. Young
DATE FILED: 07/05/2018
CLASS PERIOD START: 04/23/2018
CLASS PERIOD END: 07/05/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Monteverde & Associates PC
    350 Fifth Avenue, 59th Floor, Monteverde & Associates PC, NY 10118
    (212) 971-1341 ·
  2. Shartzer Law Firm, LLC
    156 E. Market Street, 10th Floor, Suite 1000, Shartzer Law Firm, LLC, IN 46204
    317) 969-7600 317) 969-7650 ·
No Document Title Filing Date