On or around 01/11/2018 (Notice of voluntarily dismissal)
Filing Date: August 22, 2017
According to the Complaint, on July 14, 2017, Sevcon’s Board of Directors (the “Board” or “Individual Defendants”) caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with BorgWarner. Pursuant to the terms of the Merger Agreement, shareholders of Sevcon will receive $22.00 in cash for each share of Sevcon common stock.
On August 8, 2017, defendants filed a proxy statement (the “Proxy Statement”) with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction. The Complaint alleges the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.
On January 11, 2018, Plaintiff voluntarily dismissed this case.
Company & Securities Information
Defendant: Sevcon, Inc.
Headquarters: United States
Ticker Symbol: SEV
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
Louis Scarantino, et al. v. Sevcon, Inc., et al.
COURT: D. Massachusetts
DOCKET #: 17-CV-11580
JUDGE: Hon. F. Dennis Saylor, IV
DATE FILED: 08/22/2017
CLASS PERIOD START: 07/17/2017
CLASS PERIOD END: 08/22/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Matorin Law Office, LLC 18 Grove Street, Suite 5, Matorin Law Office, LLC, MA 02482 (781) 453-0100 ·