Multi-Fineline Electronix, Inc. Securities Litigation
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 & Securities Information
Defendant: Multi-Fineline Electronix, Inc.
Industry: Electronic Instruments & Controls
Headquarters: United States
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.
First Identified Complaint
Cynthia Lehn, et al. v. Multi-Fineline Electronix, Inc., et al.
Class Action Complaint For: (1) Violation of Section 14(a) of the Securities Exchange Act of 1934 (17 U.S.C. Section 78n(a)) (2) Violation of Section 20(a) of the Securities Exchange Act of 1934 (17 U.S.C. Section 78t(a)) (3) Aiding and Abetting
Stipulation and [Proposed] Order Dismissing Action as Moot and for an Award of Attorneys' Fees and Reimbursement of Expenses
Order Dismissing Action as Moot and for an Award of Attorneys' Fees and Reimbursement of Expenses
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available