According to the Complaint, CalAtlantic is one of the nation’s largest homebuilders and offers homes in communities that meet the desires of customers across the homebuilding spectrum, from entry level to luxury, in forty-three Metropolitan Statistical Areas spanning nineteen states.
On October 29, 2017, the Individual Defendants caused the Company to enter into the Merger Agreement with Lennar. Pursuant to the terms of the Merger Agreement, shareholders of CalAtlantic will receive 0.885 shares of Class A common stock of Lennar or $48.26 in cash for each share of CalAtlantic stock they own.
On November 22, 2017, defendants filed the Registration Statement with the 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.
This case was voluntarily dismissed by the Plaintiff on February 16, 2018.