Sign In
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
AGR.US
id: 1476

Avangrid (AGR) Buyout Misrepresentation Case

S.D. New York
Court
1:25-cv-00772
Case number
05/17/2024
Class period Start
01/27/2025
Class period End
03/28/2025
Lead Plaintiff motion deadline
  • $AGR investors filed a lawsuit against Avangrid, for misleading shareholders about the fairness and independence of its merger with Iberdrola.
  • On December 23, 2024, Avangrid finalized its buyout deal with Iberdrola at $35.75 per share. Investors later discovered that critical conflicts of interest were not disclosed, impacting the fairness of the deal.
  • $AGR investors can join this case to be notified about potential recovery.
Case Details:

Between May 17, 2024, and September 26, 2024, Avangrid assured investors that the $35.75-per-share buyout by Iberdrola was negotiated fairly by an independent committee. The company emphasized that the deal was structured to protect minority shareholders.

However, investors later learned that key independent committee members, including former Maine Governor John Baldacci, had undisclosed ties to Iberdrola. These conflicts raised concerns that the negotiations were not independent and that the deal may have undervalued Avangrid’s stock.

On September 26, 2024, Avangrid shareholders voted in favor of the buyout, unaware of these conflicts. The deal closed on December 23, 2024.

Based on these events, $AGR investors filed a lawsuit against Avangrid, alleging the company:
  • It misrepresented the fairness and independence of the buyout pocess.
  • It failed to disclose conflicts of interest among key decision-makers.
Investors believe Avangrid misled them about the fairness of the Iberdrola buyout, resulting in financial losses due to an undervalued $AGR price.
Case Status
Initial Complaint
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Breach of Fiduciary duty
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
12/24/2024
Filing date
01/27/2025
Lead Plaintiff Deadline
03/28/2025
Collecting participants…

Avangrid Inc

Avangrid, Inc., an energy services holding company, engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. The company opera...

    Ticker
    AGR.US
    ISIN
    US05351W1036
    CIK
    1634997
    Sector
    Utilities
    Industry
    Utilities - Regulated Electric
    Country
    USA
    Address
    180 Marsh Hill Road, Orange, CT, United States, 06477