Sheila Lewis v. Knology, Inc.

CourtCourt of Appeals of Georgia
DecidedMarch 16, 2017
DocketA16A1915
StatusPublished

This text of Sheila Lewis v. Knology, Inc. (Sheila Lewis v. Knology, Inc.) is published on Counsel Stack Legal Research, covering Court of Appeals of Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Sheila Lewis v. Knology, Inc., (Ga. Ct. App. 2017).

Opinion

WHOLE COURT

NOTICE: Motions for reconsideration must be physically received in our clerk’s office within ten days of the date of decision to be deemed timely filed. http://www.gaappeals.us/rules

March 16, 2017

In the Court of Appeals of Georgia A16A1915. LEWIS v. KNOLOGY, INC. et al.

MCMILLIAN, Judge.

In 2012, Shelia Lewis filed a putative class action against Knology, Inc.

(“Knology”) and its former directors in the Superior Court of Troup County for

breach of fiduciary duty and failing to disclose material information regarding a

merger between Knology and WideOpenWest Finance, LLC (“WOW”). But at her

deposition, Lewis testified that she thought that her lawsuit was pending in Delaware,

she had never heard of Georgia counsel or his firm, and she thought her claims were

based on her failure to be paid for her shares, rather than information that should have

been disclosed at the time of the merger. Based on these and other findings, the trial

court denied Lewis’s motion for class certification because she was not an adequate

class representative, nor were her claims typical as required by OCGA § 9-11-23 (a). Lewis now appeals, asserting that the trial court abused its discretion in denying class

certification. For the reasons that follow, we find no error and affirm.

The trial court is vested with broad discretion to decide whether to certify a

class, and absent an abuse of that discretion, we will not disturb the trial court’s

decision. Carnett’s, Inc. v. Hammond, 279 Ga. 125, 127 (3) (610 SE2d 529) (2005);

Hooters of Augusta v. Nicholson, 245 Ga. App. 363, 367 (4) (537 SE2d 468) (2000).

“Implicit in this deferential standard of review is a recognition of the fact-intensive

basis of the certification inquiry and of the trial court’s inherent power to manage and

control pending litigation.” (Citation and punctuation omitted.) Brenntag Mid South,

Inc. v. Smart, 308 Ga. App. 899, 902 (2) (710 SE2d 569) (2011). Thus, “we will

affirm the trial court’s factual findings unless they are clearly erroneous. Under the

clearly erroneous test, factual findings must be affirmed if supported by any

evidence.” (Citation and punctuation omitted.) Id.

In denying the motion for class certification, the trial court made the following

findings of fact.1 Less than one month after Knology and WOW signed a merger

1 We recognize that the trial court executed the proposed findings of fact and conclusions of law submitted by Knology after the hearing on the motion for class certification, but note that the trial court did so only after asking both parties to submit proposed orders and that both parties consented to this procedure.

2 agreement, which required an affirmative vote of the majority of the shares of

Knology’s common stock to be approved, Equity Trading, a Knology shareholder,

filed a putative class action suit in the Superior Court of Troup County, asserting that

the Knology directors breached their fiduciary duties by approving the merger and

failing to disclose all material facts in the preliminary proxy statement. On May 24,

2012, Knology filed with the Securities and Exchange Commission (“SEC”) its

“Definitive Proxy Statement,” which affirmatively disclosed the filing of Equity

Trading’s complaint and a summary of its allegations and requested relief. The

Definitive Proxy Statement and ballot were mailed to all Knology shareholders of

record as of May 23, 2012.

On June 4, 2012, the law firm of Levi & Korsinsky filed in Delaware Chancery

Court a second putative class action on behalf of Lewis as the sole proposed class

representative, asserting substantively similar allegations to those contained in the

Equity Trading complaint filed in Georgia. Shortly thereafter and before the

shareholder meeting to consider and vote on the merger, Knology filed an amendment

to its Definitive Proxy Statement and a Form 8-K with the SEC, supplementing its

disclosures to report the filing of Lewis’s Delaware complaint and the claims made

therein. On June 26, 2012, a majority of the stockholders voted in favor of the merger,

3 which closed on July 17, 2012. Of the approximately 38.7 million shares outstanding,

31,291,445 shares voted, with 99.9% in favor of the merger.2

Lewis did not receive any proxy statement or a ballot and thus did not vote on

the merger.3 The reason for this was because Lewis had purchased 240 shares of

preferred stock in 2001, and those shares were subject to mandatory conversion into

24.89 shares of common stock in 2003. Lewis, however, never pursued the paperwork

required to convert her shares and was not listed as a holder of Knology common

stock in the transfer agent’s records after 2010.

On August 15, 2012, Lewis’s Delaware lawsuit was voluntarily dismissed and

refiled in the Superior Court of Troup County a few weeks later. The Equity Trading

and Lewis complaints were thereafter consolidated through the filing of a

consolidated class action complaint naming Knology and its former directors as

defendants and asserting claims for breach of fiduciary duties and failure to disclose.

In addition to seeking compensatory damages, the complaint also sought to rescind

2 Of the shares that voted, only 19,059 voted against the merger. 3 The trial court also noted that, under the applicable Delaware law, any shareholder who disagreed had the right to dissent and receive, instead of the merger price, the fair value of his or her shares as determined by the Delaware Chancery Court. However, the trial court found no evidence any shareholder, including Lewis, ever exercised such right.

4 the sale of Knology. Following a ruling that its principals would be required to submit

to further discovery on issues relating to their adequacy to serve as a class

representative, Equity Trading voluntarily dismissed its claims and withdrew from the

action, leaving Lewis as the sole class representative.

At her deposition in January 2014, Lewis testified that she did not know

anything about the Knology merger, any of the potential bidders, or the process by

which the Knology directors negotiated the merger. Lewis also denied knowing that

a lawsuit had been filed on her behalf in Georgia, nor had she heard of Georgia

counsel.4 And although one of the class claims is that the defendants failed to disclose

material facts in Knology’s proxy statement, it is undisputed that Lewis did not read

the proxy statement. In fact, Lewis believed that the shareholders were not notified

of the merger at all. And when asked what she hoped to gain from this lawsuit, Lewis

responded,

Well, I’m here because I have got nothing for the investment that I made and I’m sure that there’s other people out there just like me. And I don’t think it’s fair that if this is going on that we didn’t get notified. I mean, they put out the statement saying that people was to do it by proxy or all

4 The same Georgia counsel orally argued on behalf of Lewis in this appeal.

5 that. I was never given the chance so I just want it to be fair to everybody.

Lewis was then asked if she would have been satisfied had she been paid for her

shares, and Lewis replied,

If I was going out as an individual and I went to Knology and converted this share over and that’s what it was, I would be happy. But that did not happen. . . . No, my shares haven’t been converted.

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