IBEW Local 595 Pension and Money Purchase Pension Plans v. The ADT Corporation

PER CURIAM;

This appeal presents the question whether The ADT Corporation and its Chief Executive Officer, Naren Gursaha-ney (collectively, the “ADT Defendants”), and Corvex Management LP and its founder and managing director, Keith A. Meister (collectively, the “Corvex Defendants”), violated securities laws when ADT failed to disclose its subjective motivation for adopting a program to repurchase its stock. Appellants, a class of ADT investors (the “Shareholders”), also alleged that the ADT Defendants made material misrepresentations by failing to disclose the effect of increased competition…