Case Page

 

Case Status:    DISMISSED    
On or around 03/06/2018 (Court's order of dismissal)

Filing Date: January 16, 2018

On December 3, 2017, Aetna and CVS issued a joint press release announcing the entry into a Transaction Agreement (the “Transaction Agreement”) by and among the Company, CVS, Hudson Merger Sub Corp. (“Merger Sub”), a wholly owned subsidiary of CVS, pursuant to which Merger Sub will merge with and into the Company, and Aetna will be the surviving company following the merger and no longer a publicly traded corporation. Pursuant to the terms of the Transaction Agreement, each stock of Aetna’s public common stockholders will be converted into the right to receive (i) 0.8378 (the “Exchange Ratio”) fully paid and non-assessable shares of CVS Common Stock (the “Share Consideration”) and (ii) $145.00 in cash without interest thereon (the “Cash Consideration” and, together with the Share Consideration, the “Merger Consideration”), which would value Aetna at approximately $207.94 per share. The Proposed Transaction is valued at approximately $77 billion.

The Complaint alleges that on January 4, 2018, in order to convince Aetna’s stockholders to vote in favor of the Proposed Transaction, Defendants authorized the filing of a materially incomplete and misleading Form S-4 Registration Statement (the “S-4”) with the Securities and Exchange Commission (“SEC”), in violation of Sections 14(a) and 20(a) of the Exchange Act. The Complaint alleges that in particular, the S-4 contains materially incomplete and misleading information concerning: (i) financial projections for the Company; (ii) the valuation analyses performed by the Company’s financial advisor, Lazard Fre?res & Co. LLC (“Lazard”), in support of its fairness opinions; (iii) the terms and details surrounding any alternative indications of interest in the Company solicited or received from other company; and (iv) the actual Merger Consideration.

This case was dismissed voluntarily on March 2, 2018.

COMPANY INFORMATION:

Sector: Financial
Industry: Insurance (Accident & Health)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: AET
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: D. Connecticut
DOCKET #: 18-CV-00083
JUDGE: Hon. Janet C. Hall
DATE FILED: 01/16/2018
CLASS PERIOD START: 12/03/2017
CLASS PERIOD END: 01/16/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky (Stamford)
    733 Summer Street, Suite 304, Levi & Korsinsky (Stamford), CT 06901
    203-992-4523 ·
  2. Monteverde & Associates PC
    350 Fifth Avenue, 59th Floor, Monteverde & Associates PC, NY 10118
    (212) 971-1341 ·
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available