Case Page

 

Case Status:    DISMISSED    
On or around 08/29/2018 (Court's order of dismissal)

Filing Date: July 06, 2018

KLX Inc. ("KLX" or the "Company"), through its two operating segments, provides mission critical products and complex logistical solutions to support its customers’ high value assets. KLX serves its customers in demanding environments that face high cost of downtime and require dependable, high quality just-in-time customer support.

This action stems from a proposed transaction announced on May 1, 2018 (the “Proposed Transaction”), pursuant to which KLX will be acquired by The Boeing Company (“Parent”) and its wholly-owned subsidiary, Kelly Merger Sub, Inc. (“Merger Sub,” and together with Parent, “Boeing”).

On April 30, 2018, KLX’s Board of Directors (the “Board” or “Individual Defendants”) caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with Boeing. Pursuant to the terms of the Merger Agreement, if the Proposed Transaction is approved by KLX’s shareholders and completed, KLX’s stockholders will receive $63.00 in cash for each share of the KLX common stock they hold.

On June 1, 2018, Defendants filed a preliminary proxy statement, and subsequently filed an amended proxy statement on June 26, 2018 (the “Proxy Statement”), with the United States Securities and Exchange Commission (the “SEC”) in connection with the Proposed Transaction.

The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

This case was voluntarily dismissed as moot on August 22, 2018.

COMPANY INFORMATION:

Sector: Capital Goods
Industry: Aerospace & Defense
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: KLXI
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-01000
JUDGE: Hon. Maryellen Noreika
DATE FILED: 07/06/2018
CLASS PERIOD START: 05/01/2018
CLASS PERIOD END: 07/06/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rigrodsky & Long, P.A.
    919 N. Market Street, Suite 980, Rigrodsky & Long, P.A., DE 19803
    302.295.5310 302.295.5310 · info@rigrodskylong.com
  2. RM Law, P.C.
    1055 Westlakes Drive, Suite 3112, RM Law, P.C., PA 19312
    (484) 324-6800 ·
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available