Case Page

 

Case Status:    DISMISSED    
On or around 12/07/2017 (Notice of voluntarily dismissal)

Filing Date: October 11, 2017

On September 18, 2017, Orbital and Northrop Grumman announced that they had entered into a definitive merger agreement (the “Merger Agreement”) pursuant to which Northrop Grumman will acquire all of the outstanding shares of common stock of Orbital for $134.50 per share in cash (the “Merger Consideration”). The deal, including the net debt of Orbital, is valued at around $9.2 billion. The Proposed Transaction is expected to close in the first half of 2018.

According to the Complaint, Defendants have violated Section 14(a) and 20(a) of the Exchange Act by causing a materially incomplete and misleading preliminary proxy statement (the “Proxy”) to be filed with the SEC on October 2, 2017. The Proxy recommends that Orbital shareholders vote in favor of a proposed transaction (the “Proposed Transaction”) whereby Orbital will merge with Merger Sub and become a wholly-owned subsidiary of Northrop Grumman. The Complaint alleges that the Proxy fails to include critical information, and contains materially incomplete and misleading information concerning the financial projections prepared by Orbital’s management, as well as the financial analyses conducted by Citigroup.

COMPANY INFORMATION:

Sector: Capital Goods
Industry: Aerospace & Defense
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: OA
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: E.D. Virginia
DOCKET #: 17-CV-01139
JUDGE: Hon. Claude M. Hilton
DATE FILED: 10/11/2017
CLASS PERIOD START: 09/18/2017
CLASS PERIOD END: 10/11/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Finkelstein Thompson LLP
    1077 30th St. NW, Suite 150, Finkelstein Thompson LLP 20007
    (202) 337-8000 (202) 337-8090 ·
  2. Rowley Law PLLC
    50 Main Street, Suite 1000, Rowley Law PLLC, NY 10606
    914.400.1920 914.301.3514 ·
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