AdvancePierre Foods Holdings, Inc. Securities Litigation
On or around 08/14/2017 (Stipulation and order of dismissal (voluntary dismissal))
Filing Date: May 12, 2017
According to the Complaint, on April 25, 2017, AdvancePierre and Tyson issued a joint press release announcing that they had entered into an Agreement and Plan of Merger (the “Merger Agreement”) to sell AdvancePierre to Tyson.
On May 9, 2017, AdvancePierre filed a Solicitation/Recommendation Statement on Schedule 14D-9 (the “Recommendation Statement”) with the SEC. The Complaint alleges the Recommendation Statement, which recommends that AdvancePierre stockholders tender their shares in favor of the Proposed Transaction, omits or misrepresents material information concerning, among other things: (i) AdvancePierre’s financial projections, relied upon by AdvancePierre’s financial advisors, Credit Suisse Securities (USA) LLC (“Credit Suisse”) and Moelis & Company LLC (“Moelis”) in connection with rendering their fairness opinions; (ii) the data and inputs underlying the financial valuation analyses that support the fairness opinions provided by Credit Suisse and Moelis; and (iii) the background process leading to the Proposed Transaction.
Pursuant to a Stipulation by the parties, this case was ordered dismissed on June 13, 2017. The Parties filed a Stipulation for order closing the case for all purposes on August 14.
Company & Securities Information
Defendant: AdvancePierre Foods Holdings, Inc.
Sector: Consumer Non-Cyclical
Industry: Food Processing
Headquarters: United States
Ticker Symbol: APFH
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
Stephen Bushansky, et al. v. AdvancePierre Foods Holdings, Inc., et al.