According to the Complaint, on or around April 11, 2014, Ally conducted the Offering, selling 95,000,000 shares of Ally common stock at a price of $25 per share.
The Complaint alleges the Registration Statement was negligently prepared and, as a result, contained untrue statements of material facts, or omitted to state the facts necessary to make the statements not misleading, and was not prepared in accordance with the rules and regulations governing its preparation.
On May 26, 2017, the Court granted a Motion to remand this case to the Wayne County Circuit Court.
Company & Securities Information
Defendant: Ally Financial Inc.
Industry: Consumer Financial Services
Headquarters: United States
Ticker Symbol: ALLY
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.
First Identified Complaint
Bucks County Employees Retirement Fund, et al. v. Ally Financial Inc., et al.