Bread Financial Asks Judge to Dismiss Investor Suit Over Spinoff

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On Tuesday, a representative for Bread told Law360 via email the company doesn’t comment on pending litigation.

Representatives for the investors and the Loyalty Ventures executives did not immediately respond to requests for comment Tuesday.

Newtyn Partners is represented by Maya Saxena, Lester R. Hooker, Dianne M. Pitre, Jonathan Lamet, Steven B. Singer, Kyla Grant, David J. Schwartz and Rachel A. Avan of Saxena White PA and John C. Camillus of the Law Offices of John C. Camillus LLC.

Bread Financial and CEO Ralph J. Andretta are represented by Charles S. Duggan, Benjamin S. Kaminetzky, Michael V. Pucci and Oliver A. Kaufman of Davis Polk & Wardwell LLP, and Daniel J. Guttman, Douglas Vonderhaar and Mathew Drocton of BakerHostetler.

Loyalty Ventures executives Charles J. Horn and John J. Chesnut are represented by Peter A. Stokes and Michael A. Swartzendruber of Norton Rose Fulbright LLP, and Joseph Steven Justice of Dungan & LeFevre Co LPA.

The case is Newtyn Partners LP et al., v. Alliance Data Systems Corp. et al., case number 2:23-cv-01451, in the U.S. District Court for the Southern District of Ohio.