On or around 10/09/2017 (Notice of voluntarily dismissal)
Filing Date: July 24, 2017
According to the Complaint, it is alleged that in violation of sections 14(e) and 20(a) of the Exchange Act and their fiduciary duties, Defendants caused to be filed the materially deficient 14D-9 in an effort to solicit stockholders to tender their MRVC shares in favor of the Proposed Transaction. The 14D-9 is materially deficient and deprives MRVC stockholders of the information they need to make an intelligent, informed and rational decision of whether to tender their shares in favor of the Proposed Transaction. It is alleged that the 14D-9 omits and/or misrepresents material information concerning, among other things: (a) the Company’s financial projections; (b) the sales process of the Company; and (b) the data and inputs underlying the financial valuation analyses that purport to support the fairness opinions provided by the Company’s financial advisor Cowen and Company, LLC (“Cowen”); and (c) the financial analyses performed by Cowen in support of the Proposed Transaction.
On October 9, 2017, the Case was voluntarily dismissed without prejudice by the Plaintiff.
Company & Securities Information
Defendant: MRV Communications, Inc.
Industry: Communications Equipment
Headquarters: United States
Ticker Symbol: MRVC
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
Peter Allia, et al. v. MRV Communications, Inc., et al.