On or around 03/16/2017 (Settlement preliminarily approval)
Filing Date: December 09, 2015
According to the law firm press release, the Complaint alleges that during the Class Period defendants Dole and its senior executive officers conducted a fraudulent scheme to acquire the publicly held shares of Dole and convert the Company to a privately-held enterprise owned by Dole's Chairman of the Board and CEO. To implement their scheme, Dole and its executive officers made a series of materially false and misleading negative statements about the Company's operations and finances, and omitted to disclose material information, with the intention of deceiving the investing public and artificially lowering the price of Dole's stock so that Defendant could buy the Company at an artificially depressed price.
On April 14, 2016, the Court issued an Order appointing Lead Plaintiffs and Lead Counsel. Lead Plaintiffs filed an amended and consolidated complaint on June 23.
On March 9, 2017, the parties entered into a Stipulation of Settlement. This Settlement was preliminarily approved on March 16.
"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
San Antonio Fire and Police Pension Fund, et al. v. Dole Food Company, Inc., et al.