Reliant Shareholder Withdraws Proxy Proposal

Law360 (February 21, 2007, 12:00 AM EST) -- A Reliant Energy Inc. investor withdrew a contentious proxy proposal Tuesday, rendering a lawsuit Reliant launched to block the proposal moot.

Hedge fund and Reliant stockholder Seneca Capital LP submitted its intention to withdraw its proposal to the U.S. District Court for the Southern District of Texas just three weeks after Reliant filed its complaint seeking declaratory judgment. Seneca also submitted a motion to dismiss based on mootness.

Reliant’s complaint seeking declaratory judgment centered on a proposal and supporting statement submitted by Seneca Capital on December...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.