Processing your request

please wait...

Case Page


Case Status:    DISMISSED    
On or around 11/27/2017 (Notice of voluntarily dismissal)

Filing Date: October 13, 2017

This action stems from a proposed transaction announced on July 10, 2017 (the “Proposed Transaction”), pursuant to which Hawaiian Telcom Holdco, Inc. (“Hawaiian Telcom” or the “Company”) will be acquired by Cincinnati Bell Inc. (“Parent”) and Twin Acquisition Corp. (“Merger Sub,” and together with Parent, “Cincinnati Bell”).

On July 9, 2017, Hawaiian Telcom’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 Cincinnati Bell. Pursuant to the terms of the Merger Agreement, if Hawaiian Telcom shareholders approve the Proposed Transaction, they generally will be entitled to elect to receive for each share of Hawaiian Telcom they own, either: (a) 1.6305 Cincinnati Bell common shares; (b) 0.6522 Cincinnati Bell common shares and $18.45 in cash; or (c) $30.75 in cash. Following the close of the Proposed Transaction, current Cincinnati Bell shareholders and Hawaiian Telcom stockholders are expected to hold approximately 85% and 15%, respectively, of Cincinnati Bell’s outstanding common shares.

On August 17, 2017, defendants filed a Form S-4 Registration Statement (the “Registration Statement”) with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction.

The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading. Accordingly, Plaintiff alleges that defendants violated Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “1934 Act”) in connection with the Registration Statement.

On November 27, 2017, Plaintiff voluntarily dismissed this case.


Sector: Services
Industry: Communications Services
Headquarters: United States


Ticker Symbol: HCOM
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: D. Hawaii
DOCKET #: 17-CV-00519
JUDGE: Hon. J. Michael Seabright
DATE FILED: 10/13/2017
CLASS PERIOD END: 10/13/2017
  1. Wayne Parsons Law Offices
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available