Joy Global Inc. is a company that manufactures and services heavy equipment used in the extraction and haulage of coal and minerals in underground and surface mining.

According to a law firm's press release, the Complaint alleges that Joy Global and the members of its board of directors violated Section 14(a) and 20(a) of the Securities Exchange Act of 1934, 15.U.S.C. §§ 78n(a), 78t(a), and SEC Rule 14a-9, 17 C.F.R. 240.14a-9, in connection with the proposed merger between Joy Global and Komatsu America Corp. (“Komatsu”), the U.S.-based subsidiary of the Japanese multinational corporation Komatsu Ltd. (the “Proposed Merger”). The Complaint further alleges that the merger consideration and the process by which Defendants propose to consummate the Proposed Merger are fundamentally unfair to Plaintiff and the other common shareholders of Joy Global.

This case was voluntarily dismissed on October 7, 2016. A related case filed under Docket 16-CV-01229 continues.

On November 28, 2016, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on April 26, 2017.

On March 23, 2018, the Parties filed a Notice of Settlement. On May 22, the Parties entered into a Stipulation of Settlement. The Court issued an Order granting preliminary approval of the Settlement on September 14. On December 27, the Court granted final approval of the Settlement and entered Final Judgment.