AVANGRID, Inc., a leading sustainable energy company, announced that Security Limits, Inc. has voluntarily dismissed its case in the U.S. District Court for the Southern District of New York against AVANGRID, its major shareholder Iberdrola, S.A., and all other defendants. Security Limits never provided any evidence or sworn testimony to support its case and has failed to answer or dispute charges of defamation and extortion.
“As we’ve said from the start, these claims have no merit and today’s action by Security Limits validates this,” said Robert Kump, AVANGRID President and Deputy CEO. “Critics of AVANGRID seized on these unverified allegations in a rush to judgment, disregarding AVANGRID’s well-documented and independently-recognized compliance and ethics culture, system and practices.”
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While the New York case against AVANGRID is over, AVANGRID continues to pursue claims in New Mexico state court against Security Limits and its founder Paolo Silva for defamation and tortious interference. In the suit, AVANGRID lays out how Security Limits, a disgruntled former Avangrid Networks sub-contractor, endeavored to extort AVANGRID into giving it work opportunities. When AVANGRID refused to do so, Security Limits defamed AVANGRID’s during the public comment periods before the New Mexico Public Regulation Commission, which was considering AVANGRID’s merger with PNM Resources.
“Mr. Silva’s statements about our company during the New Mexico Public Regulation Commission public comment periods were false and damaging to our company’s reputation,” Mr. Kump added. “AVANGRID’s prides itself on being an ethical, responsible company. We do not take false accusations against us lightly, and we will continue to seek relief against Security Limits and Silva to the fullest extent of the law.”
It is important to note that there was no settlement between the parties, and AVANGRID’s and Iberdrola paid no money to Security Limits. Security Limits dismissed the New York case voluntarily.
AVANGRID’s has been recognized as one of the World’s Most Ethical companies by the Ethisphere Institute for three consecutive years.
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