On or around 10/07/2016 (Notice of voluntarily dismissal)
Filing Date: August 04, 2016
According to the Complaint, on June 26, 2016, Suffolk’s Board of Directors (the “Board” or “Individual Defendants”) caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”), pursuant to which public stockholders of Suffolk will receive 2.225 shares of People’s United common stock for each share of Suffolk common stock they own.
The Complaint alleges on July 22, 2016, defendants issued materially incomplete and misleading disclosures in the Form S-4 Registration Statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction. The Registration Statement is deficient and misleading in that it fails to provide adequate disclosure of all material information related to the Proposed Transaction.
This case was voluntarily dismissed on October 7, 2016.
Company & Securities Information
Defendant: Suffolk Bancorp
Industry: Money Center Banks
Headquarters: United States
Ticker Symbol: SCNB
Company Market: New York SE
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.