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Case Status:    DISMISSED    
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.


Sector: Technology
Industry: Communications Equipment
Headquarters: Canada


Ticker Symbol: MITL
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: S.D. New York
DOCKET #: 18-CV-05561
JUDGE: Hon. Loretta A. Preska
DATE FILED: 06/20/2018
CLASS PERIOD END: 06/20/2018
  1. Monteverde & Associates PC
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available