Case Page

 

Case Status:    DISMISSED    
On or around 06/20/2018 (Notice of voluntarily dismissal)

Filing Date: April 26, 2018

According to the Complaint, A. Schulman, Inc. ("A. Schulman" or the "Company") is a leading global supplier of high-performance plastic compounds, composites and powders.

On February 15, 2018, A. Schulman Inc. and LyondellBasell Industries N.V. issued a joint press release announcing that the Board had caused the Company to enter into the definitive Merger Agreement. Pursuant to the Merger Agreement, each share of Company common stock will be converted into the right to receive $42.00 in cash and one contingent value right (“CVR”) (the “Merger Consideration”). The CVR will entitle the holder to a share of proceeds from ongoing litigation relating to previous acquisitions by A. Schulman. Without taking into account the value of the CVR consideration, the Merger represents an equity valuation of approximately $2.25 billion.

On March 27, 2018, the Company filed a Form PREM14A Preliminary Proxy Statement (the “Proxy”) with the SEC designed to convince A. Schulman stockholders to approve the Proposed Transaction. The Complaint alleges that the Proxy is materially deficient and misleading because, inter alia, it fails to disclose material information regarding (i) the Company’s financial projections; (ii) the valuation analyses conducted by the Company’s financial advisor to support its fairness opinion; and (iii) the narrative background before and after entry into the Merger Agreement.

This case was voluntarily dismissed on June 20, 2018.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Chemicals - Plastics & Rubber
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SHLM
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. Delaware
DOCKET #: 18-CV-00639
JUDGE: Hon. Leonard P. Stark
DATE FILED: 04/26/2018
CLASS PERIOD START: 02/15/2018
CLASS PERIOD END: 04/26/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky LLP (DC)
    1101 30th Street, NW; Suite 115, Levi & Korsinsky LLP (DC), DC 20007
    ·
  2. O'Kelly Ernst & Joyce, LLC
    901 N. Market Street, Suite 1000, O'Kelly Ernst & Joyce, LLC, DE
    ·
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available