Case Page

 

Case Status:    ONGOING    
On or around 12/29/2015 (Ongoing date of last review)

Filing Date: May 14, 2015

According to the Complaint, on April 8, 2015, Baltic Trading announced that it had entered into a definitive agreement with Genco ("Merger Agreement") under which Genco, through Merger Sub, would acquire all of the outstanding shares of Baltic Trading in a transaction involving stock consideration.

On May 4, 2015, Genco filed a Form S-4 Registration Statement ("Registration Statement") with the U.S. Securities and Exchange Commission ("SEC") in connection with the Proposed Transaction in order to solicit the Company's shareholder's votes in support of the Proposed Transaction. The Complaint alleges the Registration Statement fails to disclose material information to the shareholders of the Company so that the shareholders may make an informed decision regarding the Proposed Transaction. Specifically, the Registration Statement omits and/or misrepresents material information concerning, among other things: (a) the sale process for the Company; (b) management's financial projections; and (c) the data and inputs underlying the financial valuation analyses that purport to support the fairness opinion provided by the Company's financial advisors, Blackstone Advisory Partners LP ("Blackstone") and Peter J. Solomon Company, L.P. ("PJSC") along with the financial analysis provided by Houlihan Lokey Capital, Inc. ("Houlihan Lokey").

COMPANY INFORMATION:

Sector: Transportation
Industry: Water Transportation
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BALT
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.
COURT: S.D. New York
DOCKET #: 15-CV-03711
JUDGE: Hon. Richard J. Sullivan
DATE FILED: 05/14/2015
CLASS PERIOD START: 04/08/2015
CLASS PERIOD END: 05/14/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brower Piven (New York)
    488 Madison Avenue. Eighth Floor, Brower Piven (New York), NY 10022
    212.501.9000 212.501.0300 · info@browerpiven.com
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