Judge Says $6.1B Energy Deal Fight Can Proceed, This Time
By Morgan Conley (January 27, 2022, 9:02 PM EST) -- A Delaware federal magistrate judge on Thursday recommended that revamped federal claims alleging shareholders were led astray about the $6.1 billion sale of renewable power company Pattern Energy should proceed, saying the investors adequately backed up their claims this time around.
U.S. Magistrate Judge Jennifer L. Hall advised against dismissing the proposed class of Pattern Energy shareholders' claims accusing the company and its top brass of violating federal securities law by pushing for the sale to the Canada Pension Plan Investment Board, despite allegedly knowing the offer was not the best one on the table.
But Judge Hall also said the...
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