In re PNM Resources, Inc. Shareholder Litigation
| Shiva Stein |
| PNM Resources, Inc., Sidney M. Gutierrez, Bruce W. Wilkinson, Norman P. Becker, E. Renae Conley, James A. Hughes, Donald K. Schwanz, Vicky A. Baily, Patricia K. Collawn, Maureen T. Mullarkey and Alan J. Fohrer |
| Stephen Bushansky, Lorraine Fjelseth, Lewis D. Baker and John Ryan |
| 1:2020cv10874 |
| December 23, 2020 |
| US District Court for the Southern District of New York |
| Gregory H Woods |
| Securities/Commodities |
| Plaintiff |
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Filing 7
ORDER: Having considered the foregoing Stipulation to Consolidate Related Cases For All Purposes, the Court hereby orders as follows: 1. The Court finds that five actions now pending before the Court-Shiva Stein v. PNM Resources, Inc., et al., Case No. 1:20-CV-10874; Lewis D. Baker v. PNM Resources, Inc., et al., Case No. 1:20-CV-10965; Lorraine Fjelseth v. PNM Resources, Inc., et al., Case No. 1:21-CV-00173; Stephen Bushansky v. PNM Resources, Inc., et al., Case No. 1:21-CV-00178; and John Ryan v. PNM Resources, Inc., et al., Case No. 1:21-CV-00709 (herein referred to as the "Actions")-involve common questions of law and fact and should be consolidated for all purposes pursuant to Federal Rule of Civil Procedure 42(a). 2. The Actions are all brought by individuals claiming to be shareholders of PNM Resources, Inc. ("PNMR") against the same set of Defendants challenging PNMR's proposed merger with Avangrid Inc., which was announced on December 18, 2020. 3. The Stein and Baker complaints challenge PNMR's preliminary proxy statement, filed with the Securities and Exchange Commission ("SEC") on December 18, 2020, and the Fjelseth, Bushansky, and Ryan complaints challenge PNMR's definitive proxy statement, filed with the SEC on January 5, 2021. The Actions allege that the preliminary proxy statements omit material information regarding the proposed transaction, thereby rendering the preliminary proxy statements false and misleading in violation of Section 14(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and SEC Rule 14a-9 promulgated thereunder. The Actions also allege that the individual Defendants violated Section 20(a) of the Exchange Act. The Actions all seek the same or similar relief, including to enjoin the proposed merger. 4. The Parties agree that the Actions involve common questions of law and fact and should be consolidated for all purposes pursuant to Federal Rule of Civil Procedure 42(a). 5. For all purposes, the Actions shall be consolidated and captioned as In re PNM Resources, Inc. Shareholder Litigation, Consolidated Civil Action No. 1:20-CV-10874 (the "Consolidated Action"). The Clerk shall maintain a master file under that case caption. All pleadings shall be filed in Consolidated Civil Action No. 1:20-CV-10874. 6. Defendants need not answer or otherwise respond to complaints filed in the Actions or any complaint filed in any subsequent civil action that is consolidated and/or transferred to this Court as part of the Consolidated Action. Defendants shall be required to answer or otherwise respond only to a consolidated complaint filed on behalf of all plaintiffs after an Order of consolidation has been entered by the Court. (Signed by Judge Gregory H. Woods on 2/1/2021) Filed In Associated Cases: 1:20-cv-10874-GHW, 1:20-cv-10965-GHW, 1:21-cv-00173-GHW, 1:21-cv-00178-GHW, 1:21-cv-00709-GHW (mro)
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| Filing 6 LETTER addressed to Judge Gregory H. Woods from Stephen G. Rinehart dated February 1, 2021 re: Stipulation and Proposed Order to Consolidate Related Cases for All Purposes. Document filed by Vicky A. Baily, Norman P. Becker, Patricia K. Collawn, E. Renae Conley, Alan J. Fohrer, Sidney M. Gutierrez, James A. Hughes, Maureen T. Mullarkey, PNM Resources, Inc., Donald K. Schwanz, Bruce W. Wilkinson..(Rinehart, Stephen) |
| Filing 5 PROPOSED STIPULATION AND ORDER. Document filed by Vicky A. Baily, Norman P. Becker, Patricia K. Collawn, E. Renae Conley, Alan J. Fohrer, Sidney M. Gutierrez, James A. Hughes, Maureen T. Mullarkey, PNM Resources, Inc., Donald K. Schwanz, Bruce W. Wilkinson. (Attachments: #1 Proposed Order).(Rinehart, Stephen) |
| Filing 4 NOTICE OF APPEARANCE by Stephen George Rinehart on behalf of Vicky A. Baily, Norman P. Becker, Patricia K. Collawn, E. Renae Conley, Alan J. Fohrer, Sidney M. Gutierrez, James A. Hughes, Maureen T. Mullarkey, PNM Resources, Inc., Donald K. Schwanz, Bruce W. Wilkinson..(Rinehart, Stephen) |
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Filing 3
NOTICE OF INITIAL PRETRIAL CONFERENCE: The conference will be conducted by telephone. The parties are directed to the Court's Emergency Rules in Light of COVID-19, which are available on the Court's website, for the dial-in number and other relevant instructions. The parties are specifically directed to comply with Rule 2(C) of the Court's Emergency Rules. SO ORDERED. Initial Conference set for 4/15/2021 at 04:00 PM before Judge Gregory H. Woods. (Signed by Judge Gregory H. Woods on 12/29/2020) (kv)
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| Case Designated ECF. (dnh) |
| ***NOTICE TO ATTORNEY REGARDING CIVIL. CASE OPENING STATISTICAL ERROR CORRECTION: Notice to attorney Gloria Kui Melwani. The following case opening statistical information was erroneously selected/entered: County code New York. The following correction(s) have been made to your case entry: the County code has been modified to Kings. (dnh) |
| CASE OPENING INITIAL ASSIGNMENT NOTICE: The above-entitled action is assigned to Judge Gregory H. Woods. Please download and review the Individual Practices of the assigned District Judge, located at #https://nysd.uscourts.gov/judges/district-judges. Attorneys are responsible for providing courtesy copies to judges where their Individual Practices require such. Please download and review the ECF Rules and Instructions, located at #https://nysd.uscourts.gov/rules/ecf-related-instructions..(dnh) |
| Magistrate Judge Debra C. Freeman is so designated. Pursuant to 28 U.S.C. Section 636(c) and Fed. R. Civ. P. 73(b)(1) parties are notified that they may consent to proceed before a United States Magistrate Judge. Parties who wish to consent may access the necessary form at the following link: #https://nysd.uscourts.gov/sites/default/files/2018-06/AO-3.pdf. (dnh) |
| Filing 2 CIVIL COVER SHEET filed..(Melwani, Gloria) |
| Filing 1 COMPLAINT against Vicky A. Baily, Norman P. Becker, Patricia K. Collawn, E. Renae Conley, Alan J. Fohrer, Sidney M. Gutierrez, James A. Hughes, Maureen T. Mullarkey, PNM Resources, Inc., Donald K. Schwanz, Bruce W. Wilkinson. (Filing Fee $ 402.00, Receipt Number ANYSDC-23174440)Document filed by Shiva Stein..(Melwani, Gloria) |
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