Synutra International, Inc., is a leading infant formula company in China that engages in the production, distribution and sale of dairy based nutritional products under the Shengyan or Synutra line of brands. The Company, which is a Delaware holding company that conducts its business through its operating subsidiaries in China, has executive
offices in Beijing and a headquarters in Rockville, Maryland.
This is a class action brought by Plaintiff on behalf of the minority public stockholders of Synutra International, Inc. (“Synutra” or the “Company”) against the chairman of the Board of Synutra, as well as the Board of Synutra, and Beams Power Merger Sub Limited (“Merger Sub”), to enjoin the going private transaction announced on or about November 17, 2016 (the “Transaction”).
According to the Complaint, it is alleged that the Buyer Group now seeks to solicit minority stockholder approval of the
Transaction by way of a materially false and misleading Preliminary Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (the “Preliminary Proxy”) filed with the United States Securities Exchange Commission (“SEC”) on December 9, 2016.
On May 16, 2017, pursuant to a Stipulation by the Parties, the Court dismissed this case.