A lawsuit filed by Andrews & Springer LLC challlenging the proposed executive compensation package at Cheniere Energy, Inc. ("Cheniere") was recently highlighted by Bloomberg in an article published on June 3, 2014. You can access the article by clicking here.
On May 30, 2014, Andrews & Springer filed its brief in support of thier recently filed motion to expedite which initially requested defendants to produce discovery before the originally scheduled June 12, 2014 annual shareholder meeting. On June 2, 2014, Cheniere decided to postpone the June 12, 2014 meeting in light of the complaint and motion to expedite. Cheniere filed a schedule 8-K with the U.S. Securities and Exchange Commission that stated in pertinent part that:
"it has decided to postpone the 2014 Annual Meeting of Stockholders of the Company, scheduled to be held at 9:00 a.m., Central Daylight Time, on Thursday, June 12, 2014, in light of a complaint that has been filed in the Delaware Court of Chancery of the State of Delaware styled Jones v. Souki, et al., C.A. No. 9710-VCL (Del. Ch.) and plaintiff’s request to expedite proceedings before the June 12th Annual Meeting. The 2014 Annual Meeting will now take place on Thursday, September 11, 2014."