On or around 06/22/2016 (Notice of voluntarily dismissal)
Filing Date: June 10, 2016
According to the law firm press release, the action arises out of a May 4, 2016 press release announcing that United Online had entered into an Agreement and Plan of Merger pursuant to which B. Riley will acquire all of United Online’s common stock for $11 per share in cash, in a transaction valued at approximately $170 million (the “Proposed Acquisition”). The complaint seeks injunctive relief on behalf of the named plaintiff and all other similarly situated United Online shareholders (the “Class”).
The complaint alleges that, in an attempt to secure shareholder approval of the Proposed Acquisition, the defendants filed a materially false and misleading Proxy Statement with the SEC in violation of the Exchange Act. The omitted and/or misrepresented information is believed to be material to United Online shareholders’ ability to make an informed decision whether to approve the Proposed Acquisition.
This case was voluntarily dismissed on June 22, 2016.
Company & Securities Information
Defendant: United Online, Inc.
Industry: Communications Equipment
Headquarters: United States
Ticker Symbol: UNTD
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
Dennis Palkon, et al. v. United Online, Inc., et al.