Swift Current Defeats Investor Lawsuit Over Wind Project Buyout

Swift Current Energy LP dodged claims that it conspired with Relight Enterprises SA to squeeze out minority investors in an Illinois wind power project at an unfair price, when a Delaware Chancery Court judge found that the lawsuit “conjures up ghosts in the room that are not there.”

Vice Chancellor Morgan T. Zurn tossed the case Tuesday, rejecting allegations that Swift aided Relight in a scheme to secure the lowball buyout of a private equity investor—at a price pegged to the Swift-Relight deal—by intentionally inflating the initial merger price and chipping away at it over time.

“Plaintiffs have offered no ...