On or around 01/19/2016 (Ongoing date of last review)
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.
Company & Securities Information
Defendant: Hutchinson Technology Incorporated
Industry: Computer Hardware
Headquarters: United States
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.
First Identified Complaint
David Erickson, et al. v. Hutchinson Technology Incorporated, et al.