Quality Care Properties, Inc. Securities Litigation
On or around 07/13/2018 (Court's order of dismissal)
Filing Date: June 25, 2018
According to the Complaint, Quality Care Properties, Inc. ("Quality Care" or the "Company") is a real estate investment trust (“REIT”) that invests in certain skilled nursing and memory care assisted living properties and medical office buildings, as well as a surgical hospital, throughout the United States.
On April 25, 2018, the Board caused the Company to enter into an agreement and plan of merger (“Merger Agreement”), pursuant to which each share of Quality Care common stock will be exchanged for $20.75 in cash (the “Merger Consideration”).
The Complaint alleges that on June 21, 2018, in order to convince Quality Care shareholders to vote in favor of the Proposed Merger, the Board authorized the filing of a materially incomplete and misleading Definitive Proxy Statement on Schedule 14A (the “Proxy”) with the Securities and Exchange Commission (“SEC”), in violation of Sections 14(a) and 20(a) of the Exchange Act.
This case was voluntarily dismissed on July 13, 2018.
Company & Securities Information
Defendant: Quality Care Properties, Inc.
Industry: Other (Mutual Fund)
Headquarters: United States
Ticker Symbol: QCP
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.
First Identified Complaint
Todd Sanderson, et al. v. Quality Care Properties, Inc., et al.