Leaf Clean Energy Company Update on Invenergy Judgement (0194Y)
03 May 2019 - 6:12PM
UK Regulatory
TIDMLEAF
RNS Number : 0194Y
Leaf Clean Energy Company
03 May 2019
This announcement contains inside information defined in Article
7 of the EU Market Abuse Regulation No 596/2014 and has been
announced in accordance with the Company's obligations under
Article 17 of that Regulation.
3 May 2019
Leaf Clean Energy Company
Delaware Supreme Court Decision on Appeal of Invenergy Lawsuit
Damages Award
On 2 May, 2019, the Delaware Supreme Court issued its opinion in
Leaf Invenergy Company, LLC v. Invenergy Wind LLC, C.A. No. 308,
2018 (the "Invenergy Lawsuit"), reversing the Court of Chancery's
prior award of $1 in nominal damages to Leaf as a result of
Invenergy Renewables LLC's (formerly known as Invenergy Wind LLC)
("Invenergy") breach of the parties' limited liability company
agreement. The Supreme Court held that Leaf was entitled to damages
in the full amount of its contractually defined Target Multiple
and, therefore, remanded the matter back to the Court of Chancery
to enter judgment consistent with its decision. The forthcoming
final judgement to be issued by the Court of Chancery upon remand
will also factor in pre- and post-judgment interest, to the extent
applicable, on the amount of the Target Multiple amount less
amounts that were previously paid to Leaf.
For further information please contact:
Mark Lerdal +1 (415) 264-5096
Leaf Clean Energy Company
Nicholas Wells/Callum Davidson +44 (0) 207 397 8980
Cenkos Securities plc
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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