Case Page

 

Case Status:    DISMISSED    
On or around 12/01/2017 (Other)

Filing Date: August 25, 2015

On July 13, 2015, BorgWarner announced that it had entered into a definitive agreement to acquire Remy International, Inc. (Remy), a global market leading producer of rotating electrical components. The Complaint alleges that the Proposed Transaction is the result of a disorganized, unfocused process that was designed to advance BorgWarner’s interests at the expense of Remy’s stockholders.

On August 18, 2015, Defendants filed the Schedule 14A, Definitive Proxy Statement with the SEC. The information contained in the Proxy Statement will be disseminated to Remy’s stockholders to solicit their vote in favor of the Merger. The vote is to take place on September 22, 2015. The Complaint alleges that the Proxy Statement denies the Company’s stockholders material information concerning the financial and procedural fairness of the Merger, and that misrepresentations and omissions in the Proxy Statement are material to Plaintiff and the Class, who will be deprived of their right to cast an informed vote if such misrepresentations and omissions are not corrected prior to the vote on the Proposed Transaction on September 22, 2015.

The parties filed a Stipulation of Settlement on July 22, 2016. The Settlement was preliminarily approved on July 27. The Court declined to grant the Settlement final approval on August 16 due to an objector. Thus, Plaintiffs voluntarily dismissed this action on September 21.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Auto & Truck Parts
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: REMY
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.
COURT: S.D. Indiana
DOCKET #: 15-CV-01343
JUDGE: Hon. Tanya Walton Pratt
DATE FILED: 08/25/2015
CLASS PERIOD START: 07/13/2015
CLASS PERIOD END: 08/25/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Faruqi & Faruqi LLP (New York)
    685 3rd Avenue 26th Floor, Faruqi & Faruqi LLP (New York), NY
    212..983.9330 212..983.9331 ·
  2. Riley Williams & Piatt, LLC
    301 Massachusetts Avenue , Riley Williams & Piatt, LLC, IN 46204
    317-633-5270 317-426-3348 ·
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