On or around 07/10/2018 (Court's order of dismissal)
Filing Date: June 20, 2018
According to the Complaint, Mitel is a global market leader in business communications powering more than two billion business connections.
On April 24, 2018, Mitel issued a press release to announce that it had signed a definitive arrangement agreement to be acquired by an investor group led by affiliates of Searchlight Capital Partners, L.P. (“Searchlight”) in an all-cash transaction valued at approximately $2.0 billion, including Mitel’s net debt.
On June 8, 2018, Mitel filed a proxy statement (the "Proxy") with the SEC in connection with the Proposed Transaction. The Proxy solicits the Company’s shareholders to vote in favor of the Proposed Transaction. Defendants were obligated to carefully review the Proxy before it was filed with the SEC and disseminated to the Company’s shareholders to ensure that it did not contain any material misrepresentations or omissions. The Complaint alleges, however, that the Proxy misrepresents and/or omits material information that is necessary for the Company’s shareholders to cast an informed vote regarding Proposed Transaction, in violation of Sections 14(a) and 20(a) of the Exchange Act.
This case was voluntarily dismissed on July 3, 2018.
Company & Securities Information
Defendant: Mitel Networks Corporation
Industry: Communications Equipment
Ticker Symbol: MITL
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
Rick Cuddihey, et al. v. Mitel Networks Corporation, et al.
COURT: S.D. New York
DOCKET #: 18-CV-05561
JUDGE: Hon. Loretta A. Preska
DATE FILED: 06/20/2018
CLASS PERIOD START: 04/24/2018
CLASS PERIOD END: 06/20/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Monteverde & Associates PC
First Identified Complaint (FIC) Filings:
Class Action Complaint
Notice of Dismissal
U.S. District Court Civil Docket
Notice of Dismissal
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available