On or around 04/30/2018 (Court's order of dismissal)
Filing Date: December 14, 2017
According to the Complaint, Exactech develops, manufactures and sells joint replacement devices, as well as related surgical instruments and biologic services. The joint replacement devices assist surgeons repairing or replacing damaged joints, while biologic solutions can repair bone defects and allow new growth. Biologic solutions can also be used with a joint replacement device. From 2012 through 2016, a significant majority of the Company’s sales were from products focused on extremities generally and the knee specifically.
On October 23, 2017, Exactech and TPG announced that they had entered into a definitive merger agreement (the “Merger Agreement”) pursuant to which TPG will acquire all the outstanding shares of common stock of Exactech for $42.00 per share. Exactech and TPG announced on December 4, 2017 that the Merger Agreement had been amended to reflect a new price of $49.25 per share (the “Merger Consideration”). The deal is valued at approximately $737 million and is expected to close in the first quarter of 2018.
The Complaint alleges that Defendants have violated the Exchange Act by causing a materially incomplete and misleading preliminary proxy statement (the “Proxy”) to be filed with the Securities and Exchange Commission (“SEC”) on December 4, 2017. The Complaint alleges that the Proxy is materially incomplete and contains misleading representations and information in violation of Sections 14(a) and 20(a) of the Exchange Act.
This case was voluntarily dismissed on April 30, 2018.
Company & Securities Information
Defendant: Exactech, Inc.
Industry: Medical Equipment & Supplies
Headquarters: United States
Ticker Symbol: EXAC
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.
First Identified Complaint
Anthony Pappalardo, et al. v. Exactech, Inc., et al.
COURT: N.D. Florida
DOCKET #: 17-CV-00303
JUDGE: Hon. Mark E Walker
DATE FILED: 12/14/2017
CLASS PERIOD START: 10/23/2017
CLASS PERIOD END: 12/14/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Cullin O'Brien Law, P.A.
Rowley Law PLLC
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934
U.S. District Court Civil Docket
Notice of Voluntary Dismissal
Order Closing File
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available