On or around 07/17/2017 (Stipulation and order of dismissal (voluntary dismissal))
Filing Date: June 02, 2017
According to the Complaint, on April 5, 2017, the Company announced that it had entered into an agreement and plan of merger (the “Merger Agreement”), by which JAB will acquire all of the outstanding shares of Panera in an all-cash transaction (the “Proposed Transaction”). If consummated, Panera stockholders will receive $ $315.00 cash for each share of Panera stock that they own (“Merger Consideration”). The Proposed Transaction is valued at approximately $7.5 billion.
The Complaint alleges on May 12, 2017, Defendants issued a materially incomplete and misleading disclosures in the Schedule 14A Information Statement (the “Proxy Statement”) filed with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction. The Proxy Statement is materially misleading in that it fails to provide adequate disclosure of material information related to the Proposed Transaction.
This case was voluntarily dismissed as moot on July 17, 2017.
Company & Securities Information
Defendant: Panera Bread Co.
Headquarters: United States
Ticker Symbol: PNRA
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.
First Identified Complaint
John Remorenko , et al. v. Panera Bread Co. , et al.