Case Page

 

Case Status:    DISMISSED    
On or around 07/14/2003 (Other)

Filing Date: March 23, 1999

According to the Company’s FORM 10-K For The Fiscal Year Ended December 29, 2002, on November 16, 2001, the defendants moved for summary judgment dismissing the action in its entirety, and the plaintiff moved to certify a class consisting of all persons or entities who held stock in Triarc as of March 10, 1999 and allegedly suffered damages thereby. On October 17, 2002, the court denied the plaintiff's motion for class certification and granted the defendants' motion for summary judgment, and subsequently entered judgment dismissing the case. On November 21, 2002, plaintiff filed a notice of appeal to the United States Court of Appeals for the Second Circuit. On February 28, 2003, the plaintiff withdrew his appeal.

As summarized by the same SEC filing, in an amended complaint filed in April 2000, Mr. Salsitz purported to assert a claim for alleged violation of Section 14(e) of the Securities Exchange Act of 1934, as amended, on behalf of all persons who held the Company's stock as of March 10, 1999. The amended complaint alleged that the Company's tender offer statement in connection with the 1999 'Dutch Auction' self-tender offer was materially false and misleading in that, among other things, it failed to disclose alleged recent valuations of Triarc.

The original complaint alleges that defendants Triarc Companies, Inc. and certain of its officers violated the federal securities laws (Section 14(e) of the Securities Exchange Act of 1934) by misrepresenting or failing to disclose material information about the valuation of Triarc that demonstrated that the recently announced dutch-auction tender offer for $16.25 to $18.25 per share was inadequate consideration and not in the best interests of Triarc shareholders.

COMPANY INFORMATION:

Sector: Services
Industry: Restaurants
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TRY
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 99-CV-2202
JUDGE: Hon. Richard M. Berman
DATE FILED: 03/23/1999
CLASS PERIOD START: 03/10/1999
CLASS PERIOD END: 03/23/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
  2. Wechsler, Harwood, Halebian & Feffer, LLP
    488 Madison Avenue, Wechsler, Harwood, Halebian & Feffer, LLP, NY
    212.935.7400 10022 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 99-CV-2202
JUDGE: Hon. Richard M. Berman
DATE FILED: 04/06/2000
CLASS PERIOD START: 03/10/1999
CLASS PERIOD END: 03/23/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
  2. Wechsler, Harwood, Halebian & Feffer, LLP
    488 Madison Avenue, Wechsler, Harwood, Halebian & Feffer, LLP, NY
    212.935.7400 10022 ·
No Document Title Filing Date
No Document Title Filing Date