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Case Status:    DISMISSED    
On or around 11/17/2016 (Court's order of dismissal)

Filing Date: April 29, 2016

According to the law firm press release, on February 4, 2016, Multi-Fineline announced it had entered a merger agreement wherein Suzhou Dongshan Precision Manufacturing Co., Ltd. would acquire all the outstanding shares of Multi-Fineline for $23.95 per share in cash. The complaint alleges that Defendants ran the sales process and negotiations in order to further their personal agendas. In particular, the complaint alleges that Defendant steered the process towards a deal with Suzhou in order to maintain his position of CEO with the post-merger entity. As a result of the defendants’ actions, the complaint alleges, Multi-Fineline rejected superior bids and accepted Suzhou’s inferior proposal, severely undervaluing Multi-Fineline and harming investors.

This case was voluntarily dismissed on November 16, 2016.

COMPANY INFORMATION:

Sector: Technology
Industry: Electronic Instruments & Controls
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MFLX
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: C.D. California
DOCKET #: 16-CV-00805
JUDGE: Hon. Cormac J. Carney
DATE FILED: 04/29/2016
CLASS PERIOD START: 02/04/2016
CLASS PERIOD END: 04/29/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brodsky & Smith, LLC (California)
    9595 Wilshire Boulevard, Suite 900, Brodsky & Smith, LLC (California), CA 90212
    310.300.8425 310.300.8425 · clients@brodsky-smith.com
  2. Levi & Korsinsky (Los Angeles)
    445 South Figueroa Street, 31st Floor, Levi & Korsinsky (Los Angeles), CA 90071
    (213) 985-7290 (202) 333-2121 ·
No Document Title Filing Date