According to the law firm press release, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, on June 29, 2016, defendants issued materially incomplete disclosures in the Form S-4 Registration Statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission. The Registration Statement, which recommends that Mines stockholders vote in favor of the Proposed Transaction, omits material information necessary to enable shareholders to make an informed decision as to how to vote on the Proposed Transaction, including material information with respect to the process and events leading up to the Proposed Transaction, Mines’ financial projections, and the opinions and analyses of Mines’ financial advisor.
Plaintiff seeks injunctive and equitable relief and damages on behalf of holders of Mines common stock.
Defendants filed a Motion to Dismiss for Failure to State a Claim on August 8, 2016. The Court granted the Motion and Dismissed the Case on September 2.