On or around 07/11/2018 (Court's order of dismissal)
Filing Date: May 22, 2018
According to the Complaint, on March 14, 2018, Coastway Bancorp, Inc. ("Coastway" or the "Company") announced that it had entered into an agreement and plan of merger (the “Merger Agreement”), by which HarborOne Bancorp, Inc.), will acquire all of the outstanding shares of Coastway (the “Proposed Transaction”). If consummated, Coastway stockholders will receive $28.25 in cash for each share of Coastway common stock that they own (“Merger Consideration”).
The Complaint alleges that on April 25, 2018, Defendants issued materially incomplete and misleading disclosures in the Schedule 14A Proxy Statement (the “Preliminary Proxy Statement”) filed with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction. The Complaint further alleges that approximately one month later, Defendants issued materially incomplete and misleading disclosures in the Schedule 14A Definitive Proxy Statement (the “Proxy Statement”), and which set June 21, 2018 as the date for the special meeting of stockholders of Coastway.
This case was voluntarily dismissed on July 11, 2018.
Company & Securities Information
Defendant: Coastway Bancorp, Inc.
Industry: Regional Banks
Headquarters: United States
Ticker Symbol: CWAY
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
Fredda Sharfstein, et al. v. Coastway Bancorp, Inc., et al.