LAWSUIT ALERT - Andrews & Springer LLC Announces That A Class Action Has Been Filed Against Pattern Energy Group, Inc. For Securities Violations - PEGI
WILMINGTON, Del., Jan. 13, 2020 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announces that a class action lawsuit has been filed by another law firm on behalf of shareholders of Pattern Energy Group Inc. (NASDAQGS: PEGI) (“Pattern Energy Group” or the “Company”) for possible corporate misconduct and breach of fiduciary duty.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
On November 4, 2019, Pattern Energy Group and private equity firm Thoma Bravo LLC (“Thoma Bravo”) announced the signing of a definitive merger agreement pursuant to which Thoma Bravo will acquire Pattern Energy Group in a merger worth $6.1 billion (the “Merger"). As a result of the Merger, Pattern Energy Group shareholders are only anticipated to receive $26.75 per share in cash in exchange for each share of Pattern Energy Group.
A Pattern Energy Group shareholder represented by another law firm has filed a class action complaint against Pattern Energy Group for federal securities violations. The complaint was filed in the United States District Court, District of Delaware, Case No. 19-cv-02360-UNA.
According to the lawsuit, which was filed on December 27, 2019, defendants filed a proxy statement (the “Proxy”) with the United States Securities and Exchange Commission (“SEC”) in connection with the Merger.
The Proxy omits material information with respect to the Merger, which renders the Proxy false and misleading. Accordingly, plaintiff seeks that the Merger should be enjoined until defendants disclose more information to stockholders.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.
