September 5, 2013 - The court granted defendants' motion to dismiss without prejudice and ordered the case closed.
July 11, 2013 - Defendants filed a motion to dismiss.

December 31, 2012 - The plaintiff filed an amended consolidated complaint.

December 27, 2012 - An investor in shares of New Jersey Resources Corp (NYSE: NJR) filed a lawsuit in the U.S. District Court for the District of New Jersey against New Jersey Resources Corp over alleged violations of Federal Securities Laws seeking equitable relief in connection with an alleged false and misleading proxy statement filed by the board.

On December 12, 2012, New Jersey Resources Corp filed a Schedule 14(a) Proxy Statement (the “2013 Proxy”) with the Securities and Exchange Commission (the “SEC”) in connection with New Jersey Resources Corp’s 2013 Annual Meeting of Stockholders (the “2013 Annual Meeting”), which is scheduled for January 23, 2013. In the 2013 Proxy, New Jersey Resources Corp is soliciting shareholder proxies for, among other things, the re-election of five directors.

According to the complaint the 2013 Proxy, as required, devotes a section to discuss the executive compensation decisions made by the board during New Jersey Resources Corp's 2012 fiscal year (the year ended September 30, 2012). As discussed in the 2013 Proxy, performance-based compensation constitutes a substantial component of the compensation granted to New Jersey Resources Corp’s named executive officers, so the lawsuit.

The plaintiff claims that in its discussion, however, the board falsely represents to the shareholders that New Jersey Resources Corp has a valid plan in place, i.e. the 2007 Stock Award and Incentive Plan (the “2007 Plan”), pursuant to which the board, through its Leadership Development and Compensation Committee (the “LDCC”), can grant tax-deductible performance-based compensation to New Jersey Resources Corp’s named executive officers under §162(m) of the Internal Revenue Code (“§162(m)”).

Plaintiff seeks to enjoin the 2013 Annual Meeting until the board takes one of two actions. First, the board can amend the 2013 Proxy to correct the materially false and misleading statements and material omissions regarding the LDCC’s ability to grant tax-deductible performance-based compensation under §162(m), or second, the board can seek shareholder reapproval of the 2007 Plan (or any other §162(m) compliant plan) at the upcoming 2013 Annual Meeting so as to regain compliance with 162(m).