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Corwin Cleansing Denied Again: Delaware Court of Chancery Green Lights Claims Alleging Loyalty Breaches Tainting Company Sales Process in In re Pattern Energy Group Inc. Stockholders Litigation | Cadwalader, Wickersham & Taft LLP


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On May 6, 2021, Vice Chancellor Zurn of the Delaware Court of Chancery issued a 200-page decision denying a motion to dismiss in
In re Pattern Energy Group Inc. Stockholders Litigation, a class action challenging the $6.1 billion go-private, all-cash sale of Pattern Energy Group Inc. (“Pattern Energy” or the “Company”) to Canada Pension Plan Investment Board (“Canada Pension”).  The transaction was narrowly approved by 52% of the Pattern Energy stockholders on March 10, 2020, with both ISS and Glass Lewis recommending stockholders vote against the sale.  The sale closed on March 16, 2020. 
Despite having many of the traditional hallmarks of a sound sales process a disinterested and independent special committee authorized to conduct the process, non-conflicted legal and financial advisors counseling the special committee, and multiple viable potential buyers submitting offers the Court denied ....

United States , Nova Scotia , Wickersham Taft , Wickersham Taft Mar , Chester Cty , Daniel Elkort , Edmund John Philip Browne , Sholders Litig , Sholder Litig , Myers Gen , Michael Lyon , Holdings Inc , Us Ltd , Pattern Energy Grp , Mindbody Inc , Brookfield Management Asset Inc , Caledon Capital Management Inc , Pattern Energy , Baker Hughes Inc , Columbia Pipeline Grp Inc , Financial Holdings , Huff Energy Fund , Supplier Partnership Agreement , Presidio Inc , Pattern Energy Board , Riverstone Pattern Energy Holdings ,

Del. Chancery Denies motion to Dismiss In re Pattern Energy Group Inc. Stockholders Litigation


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Corwin Cleansing Denied Again: Delaware Court of Chancery Green Lights Claims Alleging Loyalty Breaches Tainting Company Sales Process in In re Pattern Energy Group Inc. Stockholders Litigation
Tuesday, May 18, 2021
On May 6, 2021, Vice Chancellor Zurn of the Delaware Court of Chancery issued a 200-page decision denying a motion to dismiss in 
In re Pattern Energy Group Inc. Stockholders Litigation, a class action challenging the $6.1 billion go-private, all-cash sale of Pattern Energy Group Inc. (“Pattern Energy” or the “Company”) to Canada Pension Plan Investment Board (“Canada Pension”)
1.  The transaction was narrowly approved by 52% of the Pattern Energy stockholders on March 10, 2020, with both ISS and Glass Lewis recommending stockholders vote against the sale.  The sale closed on March 16, 2020.  ....

United States , Nova Scotia , Wickersham Taft , Wickersham Taft Mar , Chester Cty , Daniel Elkort , Edmund John Philip Browne , Sholders Litig , Sholder Litig , Myers Gen , Michael Lyon , Holdings Inc , Us Ltd , Pattern Energy Grp , Mindbody Inc , Brookfield Management Asset Inc , Caledon Capital Management Inc , Pattern Energy , Baker Hughes Inc , Columbia Pipeline Grp Inc , Financial Holdings , Huff Energy Fund , Supplier Partnership Agreement , Presidio Inc , Pattern Energy Board , Riverstone Pattern Energy Holdings ,

Peloton Was Winning and Blew It


Peloton Was Winning and Blew It
May 06 2021, 2:02 AM
May 05 2021, 10:37 PM
May 06 2021, 2:02 AM
(Bloomberg Opinion) Peloton, you blew it. 
(Bloomberg Opinion) Peloton, you blew it. 
The undisputed king of home workouts is initiating a safety recall of all its treadmills following reports and videos of children and pets getting sucked underneath the Tread+. In one instance, a 6-year-old died. The Tread, a cheaper version of the machine, is also being recalled because the mounted touchscreen sometimes detaches and falls off. Shares of Peloton Interactive Inc. — which beat every stock in the Russell 1000 index last year except Tesla Inc. and Enphase Energy Inc. — plunged 13% Wednesday to their lowest price since September. Its market capitalization peaked at $49 billion in January, but is now down to $24 billion.  ....

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