On or around 07/23/2019 (Ongoing date of last review)
Filing Date: July 23, 2019
According to the Complaint, El Paso Electric Company is an electric utility that provides generation, transmission, and distribution service to approximately 428,000 retail and wholesale customers in a 10,000 square mile area of the Rio Grande valley in west Texas and southern New Mexico.
This action stems from a proposed transaction announced on June 3, 2019, pursuant to which El Paso Electric Company will be acquired by Sun Jupiter Holdings LLC.
On June 1, 2019, El Paso’s Board of Directors caused the Company to enter into an agreement and plan of merger with Sun Jupier Holdings LLC. Pursuant to the terms of the Merger Agreement, Sun Jupiter’s stockholders will receive $68.25 in cash for each share of El Paso common stock they own.
On July 16, 2019, Defendants filed a proxy statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.
Company & Securities Information
Defendant: El Paso Electric Company
Industry: Electric Utilities
Headquarters: United States
Ticker Symbol: EE
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
Jordan Rosenblatt, et al. v. El Paso Electric Company, et al.