The U.S. District Court for the District of Maryland, in Raul Hurtado, et al. v. Gramercy Property Trust, et al., C.A. No. 18-2711-ELH, memo. op. (D. Md. Dec. 4, 2019), dismissed claims challenging alleged failure to disclose classifications of comparable companies used in a financial advisor’s comparable companies analysis, finding the purportedly omitted information was publicly available and not material.
Shearman & Sterling discusses the decision in District Of Maryland Dismisses Post-Merger Securities Class Action, Finding Omission Of Public Information Relating To Financial Advisor’s Analysis Did Not Render Proxy Materially Misleading.