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Case Status:    DISMISSED    
On or around 05/24/2017 (Stipulation and order of dismissal (voluntary dismissal))

Filing Date: January 30, 2017

According to the Complaint, it is alleged that this action arises out of the attempt to sell Derma Sciences, Inc. (“Derma Sciences” or the “Company”) to Integra Lifesciences Holdings Corporation and Integra Derma, Inc. (the “Merger Sub”) (collectively “Integra”), by means of an unfair process and for an unfair price (the “Proposed Acquisition” and/or “Merger”).

Under the terms of a definitive merger agreement announced on January 10, 2017 (the “Merger Agreement”), at the effective time, each share of the Company’s common stock, issued and outstanding immediately prior to the effective time will be converted into the right to receive $7.00 per share in cash. In addition, at the effective time each share of Derma Sciences’ Series A Convertible Preferred Stock and Derma Sciences’ Series B Preferred Stock will be converted into the right to receive $32.00 per share in cash and $48.00 per share in cash, respectively. The Proposed Acquisition, which is structured as a tender offer, has a total approximate value of $204 million and is expected to complete the transaction in the first quarter of 2017.

The Complaint alleges this consideration is unreasonably low and significantly undervalues the Company.

Pursuant to a Stipulation by the Plaintiff, this case was dismissed on May 24, 2017.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: DSCI
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.
COURT: D. New Jersey
DOCKET #: 17-CV-00628
JUDGE: Hon. Peter G. Sheridan
DATE FILED: 01/30/2017
CLASS PERIOD START: 01/10/2017
CLASS PERIOD END: 01/30/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brodsky & Smith, LLC (New Jersey)
    1040 Kings Highway N., Suite 601, Brodsky & Smith, LLC (New Jersey), NJ 08034
    856.795.7250 856.795.7250 · clients@brodsky-smith.com
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