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Case Status:    DISMISSED    
On or around 08/14/2018 (Notice of voluntarily dismissal)

Filing Date: July 30, 2018

According to the Complaint, Xerium Technologies, Inc. ("Xerium" or the "Company") is a leading global provider of industrial consumable products and services. The Company’s products and services are consumed during machine operation by its customers.

On June 24, 2018, Xerium and Andritz AG issued a joint press release announcing the proposed acquisition (the “Proposed Transaction”) of Xerium by Andritz, through its wholly owned subsidiary, XYZ Merger Sub, Inc. (“Merger Sub”).

On June 24, 2018, the Board caused the Company to enter into an Agreement and Plan of Merger (“Merger Agreement”), pursuant to which each common share of Xerium will be converted into the right to receive $13.50 in cash (the “Merger Consideration”).

The Complaint alleges that on July 16, 2018, in order to convince Xerium’s shareholders to vote in favor of the Proposed Transaction, Defendants authorized the filing of a materially incomplete and misleading proxy statement (the “Proxy”) with the SEC, in violation of Sections 14(a) and 20(a) of the Exchange Act. In particular, the Complaint alleges that the Proxy contains materially incomplete and misleading information concerning: (i) financial projections for Xerium; and (ii) the valuation analyses performed by Xerium’s financial advisor in support of its fairness opinion.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Misc. Fabricated Products
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: XRM
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.
COURT: D. Delaware
DOCKET #: 18-CV-01116
JUDGE: Hon. Leonard P. Stark
DATE FILED: 07/30/2018
CLASS PERIOD START: 06/24/2018
CLASS PERIOD END: 07/30/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cooch & Taylor, P.A.
    The Brandywine Building; 1000 West Street, 10th Floor, Cooch & Taylor, P.A., DE 19801
    302.984.3800 302.984.3939 ·
  2. Monteverde & Associates PC
    350 Fifth Avenue, 59th Floor, Monteverde & Associates PC, NY 10118
    (212) 971-1341 ·
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