Sunworks Secures Dismissal in Multi-Forum M&A Litigation

Secured a dismissal for Sunworks and its board of directors in multi-forum litigation involving eight separate lawsuits in six jurisdictions, arising out of Sunworks’ announcement of its merger with The Peck Company.

The suits challenged the proxy disclosures, price, and process for that proposed transaction. In seeking a mootness fee in excess of $10 million, plaintiff pursued a novel legal theory in which he claimed that his lawsuit was responsible for the proposed transaction failing due to the lack of a sufficient stockholder quorum and the resulting uptick in the company’s stock price.