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CVI.US
id: 337, Created by Stan Vick Chase, Scout
CVR Energy Inc
Pending settlement
29 January 2019
Class period EndIN RE CVR REFINING, LP UNITHOLDER LITIGATION.
The original complaint alleged claims for :
- breach of contract against the Partnership, the General Partner, CVR Holdings, and CVR Energy,
- breach of the implied covenant of good faith and fair dealing against the Partnership, the General Partner, CVR Holdings, and CVR Energy,
- tortious interference against CVR Energy, IEP, Icahn, and the directors of the General Partner.
Following extensive, arm’s-length negotiations, including direct engagement among certain of the principals of CVR Energy and IEP, the Parties reached an agreement to settle the claims for $78,500,000 in cash.
All holders of CVR Refining, LP limited partnership units as of January 29, 2019, and units purchased on that date by CVR Energy, Inc are affected by this agreement.
Alleged Offence
Other
Suspected Party
Other
Security Type
Unit (ETF, ETN, Unit)
Trade Direction
Long
Lead plaintiff
Bharat H. Barai, MD, Bharat H. Barai, MD, Panna B. Barai, MD, TRS FBO Suniti Medical Corporation MPP & Trust UA 11/30/87
Attorney
Bernstein Litowitz Berger & Grossmann LLP, Friedlander & Gorris, P.A., Berger Montague PC
Court
Delawere court of Chancery
Judge
Hon. Kathaleen St. Jude McCormick
Administrator
A.B. Data Ltd
Court hearing date
16 December 2022
Settlement conditions
All holders of CVR Refining, LP limited partnership units as of January 29, 2019, and your units were puchased on that date by CVR Energy, Inc.
+$78,500,000
Total Settlement Amount