|Court:||Second Judicial District Court, Washoe County, Nevada|
|Case Leader:||Mark Lebovitch|
Shareholder class action filed on behalf of BLB&G client the City of Pontiac General Employees' Retirement System against members of the Arena Resources, Inc. board of directors ("Defendants") for breaching their fiduciary duties in connection with a proposed merger (the "Proposed Transaction") with fellow oil and gas exploration company SandRidge Energy, Inc. ("SandRidge").
After expedited discovery and on the eve of the preliminary injunction hearing, BLB&G successfully negotiated a favorable settlement with Defendants. The settlement required Defendants to significantly revise the merger agreement and its deal protections. Additionally, the settlement forced Defendants to make extensive and substantive disclosures in their joint proxy statement allowing Arena's shareholders to cast an informed ballot on whether to approve the Proposed Transaction. A hearing to approve the settlement was held on September 10, 2010 and the Honorable Patrick Flanagan, District Judge, issued an order approving the settlement in its entirety on September 30, 2010.
- Events BLB&G Partner Rebecca Boon Serves as Panelist at PLI Program, ESG 2022: What It Means for Boards, Management, and Counsel May 20, 2022 Learn More
- News BLB&G Senior Counsel Catherine van Kampen Appointed Co-Chair of the New York State Bar Association’s Committee on Leadership Development May 20, 2022 Learn More
- Events BLB&G Associate Andrew Blumberg Interviewed for ABA's Litigation Section Podcast on Delaware Supreme Court's Recent Brookfield Decision May 19, 2022 Learn More
- Events BLB&G Partner Hannah Ross to Speak at PAPERS Spring Forum May 18, 2022 Learn More
- Events BLB&G Partners John Rizio-Hamilton and Jesse Jensen Present Webinar on Auditor Regulation and Liability Under U.S. Securities Laws May 18, 2022 Learn More