HOUSTON – An owner of Dynegy common stock is seeking to enjoin a transaction with Vistra Energy Corp. until a new registration statement is released.
Susan Paskowitz filed a complaint individually and on behalf of all others similarly situated filed a complaint on Jan. 4 in the Houston Division of the Southern District of Texas against Dynegy Inc., Vistra Energy Corp., et al. alleging violation of the Securities and Exchange Act of 1934.
According to the complaint, on Oct. 29, 2017, Dynegy’s board of directors caused the company to enter into a plan of merger with Vistra Energy and the defendants filed a registration statement with the U.S. Securities and Exchange Commission in December 2017. The plaintiff alleges this statement omits information regarding the transaction.
The plaintiff holds Dynegy Inc., Vistra Energy Corp., et al. responsible because the defendants allegedly failed to disclose material information relating to the company's financial projections and the potential conflicts of interest of the management.
The plaintiff requests a trial by jury and seeks an order enjoining defendants from closing the proposed transaction and directing defendants to disseminate a registration statement that does not contain false statements of material fact, award for costs of this action and such other and further relief. She is represented by Joe Kendall and Jamie J. McKey of Kendall Law Group PLLC in Dallas and Rigrodsky & Long PA in Wilmington, Delaware.
Houston Division of the Southern District of Texas case number 4:18-cv-00027