Updated: July 3, 2018
Status: Ongoing Case
Labaton Sucharow is co-lead counsel in a lawsuit against certain former officers and directors of Columbia Pipeline Group, Inc. for breaching their fiduciary duties as directors and/or officers of Columbia Pipeline, and against TransCanada Corporation for aiding-and-abetting the breaches of fiduciary duty, in connection with the acquisition of Columbia Pipeline by TransCanada in July 2016.
The Firm’s complaint alleges that the Defendants engineered a scheme to spin-off Columbia Pipeline from its former parent—NiSource, Inc.—and sell the Company to TransCanada as part of a self-interested plan to trigger lucrative change-in-control benefits for the Company’s officers and directors. Labaton Sucharow filed the complaint on July 3, 2018 and a motion to dismiss by Defendants is currently pending but has not yet been briefed.
The case is Public Employees’ Retirement System of Mississippi v. Skaggs et al., C.A. No. 2018-0484 (Del. Ch.).