The New York Times offers this report. You can find the group’s press release here. Marty Lederman weighs in here on why there are reasons to believe the suit may well be rejected.
Let me offer another: the kind of challenge plaintiff is bringing here is an “as applied” challenge to the blackout period. (The Supreme Court upheld a facial challenge to that blackout period in the McConnell case.) In my forthcoming Penn Law Review article on McConnell, I argue that the Supreme Court appears to have foreclosed such as-applied challenges (a result I am not necessarily sure is a good one).