Silver Bay Realty Trust Corp. Securities Litigation
On or around 06/07/2017 (Court's order of dismissal)
Filing Date: April 07, 2017
According to the Complaint, on February 27, 2017, Silver Bay and Tricon Capital Group, Inc. (“Tricon”) announced that they had entered into a definitive agreement (“Merger Agreement”) under which Tricon will acquire all of the outstanding shares of Silver Bay in an all-cash transaction (the “Proposed Transaction”). If consummated, Silver Bay stockholders will receive $21.50 in cash for each share of Silver Bay common stock. The Proposed Transaction has an equity value of approximately $1.4 billion.
The Complaint alleges on March 28, 2017, Defendants issued materially incomplete and misleading disclosures in the Schedule 14A Definitive Proxy Statement (the “Proxy”) filed with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction. The Proxy is deficient and misleading in that it fails to provide adequate disclosure of all material information related to the Proposed Transaction.
Company & Securities Information
Defendant: Silver Bay Realty Trust Corp.
Industry: Real Estate Operations
Headquarters: United States
Ticker Symbol: SBY
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
Robert Dell'Osso, et al. v. Silver Bay Realty Trust Corp., et al.