On or around 08/19/2014 (Other)
Filing Date: February 03, 2014
According to the Complaint, on December 18, 2013, Nicholas Financial announced that its Board of Directors ("Board") entered into an Arrangement Agreement (hereinafter also referred to as "merger agreement") with Prospect Capital Corporation and its affiliates. Defendants seek approval from Nicholas Financial's shareholders for the merger. To that end, on January 14,2014, Defendants filed a Registration Statement on Form N-14 8(c) ('Registration Statement") with the U.S. Securities and Exchange Commission ('SEC"). The purpose of the Registration Statement is to encourage Nicholas Financial's shareholders to accept the merger.
The Complaint alleges that the Registration Statement does not allow Nicholas Financial's shareholders to determine whether the merger would be in their interest or is skewed towards Defendants. Plaintiff seeks to enjoin the Nicholas Financial shareholder vote unless and until the material misstatements and omissions in the Registration Statement are corrected.
On July 14, 2014, the plaintiffs filed notice voluntarily dismissing this case.
Company & Securities Information
Defendant: Nicholas Financial, Inc.
Industry: Consumer Financial Services
Headquarters: United States
Ticker Symbol: NICK
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.
First Identified Complaint
Marvin Biver, et al. v. Nicholas Financial, Inc., et al.