Case Page

 

Case Status:    DISMISSED    
On or around 10/25/2016 (Date of order of final judgment)

Filing Date: November 30, 2015

According to the Complaint, the Proxy recommends that Hutchinson shareholders vote in favor of a proposed transaction (the “Proposed Transaction”) whereby Hutchinson will merge with Hydra Merger Sub, Inc. (“Merger Sub”) and become a wholly owned subsidiary of Headway Technologies, Inc. (“Headway”). Pursuant to the terms of the definitive agreement and plan of merger these entities entered into (the “Merger Agreement”), Hutchinson shareholders stand to receive $3.62 in cash per share and up to an additional $0.38 in cash under certain circumstances (the “Merger Consideration”).

The Complaint alleges the Merger Consideration and the process by which Defendants propose to consummate the Proposed Transaction are fundamentally unfair to Plaintiff and the other common shareholders of Hutchinson.

On April 20, 2016, this action was consolidated under 15-cv-4356.

On October 25, 2016, this case was dismissed with prejudice.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Hardware
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: HTCH
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: D. Minnesota
DOCKET #: 15-CV-04261
JUDGE: Hon. David S. Doty
DATE FILED: 11/30/2015
CLASS PERIOD START: 11/23/2015
CLASS PERIOD END: 11/30/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Faruqi & Faruqi LLP (New York)
    685 3rd Avenue 26th Floor, Faruqi & Faruqi LLP (New York), NY
    212..983.9330 212..983.9331 ·
  2. Heins Mills & Olson PLC
    3550 IDS Center, 80 South Eighth Street, Heins Mills & Olson PLC, MN 55402
    612.338.4605 612.338.4692 · info@heinsmills.com
No Document Title Filing Date
COURT: D. Minnesota
DOCKET #: 15-CV-04356
JUDGE: Hon. David S. Doty
DATE FILED: 05/23/2016
CLASS PERIOD START: 11/23/2015
CLASS PERIOD END: 11/30/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Faruqi & Faruqi LLP (New York)
    685 3rd Avenue 26th Floor, Faruqi & Faruqi LLP (New York), NY
    212..983.9330 212..983.9331 ·
  2. Heins Mills & Olson PLC
    3550 IDS Center, 80 South Eighth Street, Heins Mills & Olson PLC, MN 55402
    612.338.4605 612.338.4692 · info@heinsmills.com
No Document Title Filing Date