Case Page

 

Case Status:    DISMISSED    
On or around 10/30/2014 (Other)

Filing Date: December 08, 2010

According to a press release dated December 22, 2010, the complaint alleges that on November 15, 2010, defendants announced that they had entered into an Agreement and Plan of Merger pursuant to which Caterpillar will purchase all of Bucyrus’s outstanding shares for the inadequate price of $92.00 per share (the “Proposed Merger”). The Proposed Merger is expected to close in mid-2011.

The complaint alleges that the Proposed Merger is the product of a fundamentally flawed process, undertaken in breach of the Board’s fiduciary duties, and designed to engineer the sale of Bucyrus to Caterpillar on terms preferential to Caterpillar and provide material benefits to the Company’s insiders. The complaint further alleges that in an attempt to secure shareholder support for the Proposed Merger, on December 8, 2010, defendants issued a materially false and misleading Preliminary Proxy on Schedule 14A (the “Proxy”). The Proxy, which recommends that Bucyrus shareholders vote in favor of the Proposed Merger, omits and/or misrepresents material information about the unfair sales process for the Company, conflicts of interest that corrupted the sales process, the unfair consideration offered in the Proposed Merger, and the actual intrinsic value of the Company on a stand-alone basis and as a merger partner for Caterpillar. This information is material to the impending decision of Bucyrus’s shareholders whether or not to vote in favor of the Proposed Merger.

On December 20, 2010, an Amended Complaint was filed. The defendants filed a motion to dismiss on January 3, 2011.

On March 28, 2014, the Court ordered that defendants’ motion to dismiss the Second Amended Complaint is granted.

COMPANY INFORMATION:

Sector: Capital Goods
Industry: Constr. & Agric. Machinery
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BUCY
Company Market: NASDAQ
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: E.D. Wisconsin
DOCKET #: 10-CV-01106
JUDGE: Hon. Charles N Clevert, Jr
DATE FILED: 12/08/2010
CLASS PERIOD START: 11/15/2010
CLASS PERIOD END: 12/08/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Hale & Wagner, S.C.
    205 East Wisconsin Avenue, Suite 300, Hale & Wagner, S.C., WI 53202
    414.278.7000 414.278.7000 · ksw@halewagner.com
  2. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
  3. Robbins Geller Rudman & Dowd LLP (Boca Raton)
    120 East Palmetto Park Road, Suite 500, Robbins Geller Rudman & Dowd LLP (Boca Raton), FL 33432
    561.750.3000 561.750.3364 ·
No Document Title Filing Date
COURT: E.D. Wisconsin
DOCKET #: 10-CV-01104
JUDGE: Hon. Charles N Clevert, Jr
DATE FILED: 04/02/2012
CLASS PERIOD START: 11/15/2010
CLASS PERIOD END: 12/08/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Hale & Wagner, S.C.
    205 East Wisconsin Avenue, Suite 300, Hale & Wagner, S.C., WI 53202
    414.278.7000 414.278.7000 · ksw@halewagner.com
  2. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
  3. Robbins Geller Rudman & Dowd LLP (Boca Raton)
    120 East Palmetto Park Road, Suite 500, Robbins Geller Rudman & Dowd LLP (Boca Raton), FL 33432
    561.750.3000 561.750.3364 ·
No Document Title Filing Date
No Document Title Filing Date