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
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