On or around 11/28/2016 (Court's order of dismissal)
Filing Date: July 15, 2016
According to the Complaint, on June 16, 2016, Ceres’s Board of Directors (the “Board” or the “Individual Defendants,” and together with Ceres and Land O’ Lakes, “Defendants”) caused Ceres to enter into an agreement and plan of merger (the “Merger Agreement”), pursuant to which stockholders of Ceres will receive $0.40 in cash for each share of Ceres common stock held.
The Complaint alleges on July 1, 2016, Defendants issued materially incomplete disclosures in the Solicitation/Recommendation Statement (the “Solicitation Statement”) filed with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction. The Solicitation Statement is deficient and misleading in that it fails to provide adequate disclosure of all material information related to the Proposed Transaction.
On November 28, 2016, this action was dismissed for failure to prosecute.
Company & Securities Information
Defendant: Ceres, Inc.
Industry: Alternative Energy
Headquarters: United States
Ticker Symbol: CERE
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.