On or around 01/30/2019 (Notice of voluntarily dismissal)
Filing Date: January 17, 2019
According to the Complaint, InfraREIT Inc. ("InfraREIT" or the "Company") owns and leases rate-regulated electric transmission assets in Texas.
On October 18, 2018, InfraREIT issued a press release announcing the Proposed Transaction, pursuant to which InfraREIT will be acquired by Oncor Electric Delivery Company LLC.
On January 4, 2019, InfraREIT filed a Definitive Proxy Statement on Schedule 14A (the “Proxy Statement”) with the SEC. The Complaint alleges that the Proxy Statement, which recommends that InfraREIT stockholders vote in favor of the Proposed Transaction, omits or misrepresents material information concerning, among other things: (i) InfraREIT’s financial projections relied upon by the Company’s financial advisor in its analyses; (ii) the data and inputs underlying the financial valuation analyses that support the fairness opinion provided by the Company's financial advisor; (iii) the background process leading to the Proposed Transaction; and (iv) potential conflicts of interest faced by the Company's financial advisor.
This case was voluntarily dismissed on January 30, 2019.
Company & Securities Information
Defendant: InfraREIT Inc.
Industry: Real Estate Operations
Headquarters: United States
Ticker Symbol: HIFR
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
Stephen Bushansky, et al. v. InfraREIT Inc., et al.