Case Page

 

Case Status:    ONGOING    
On or around 09/24/2018 (Ongoing date of last review)

Filing Date: September 24, 2018

According to the Complaint, KMG Chemicals, Inc. ("KMG" or the "Company") is a chemical company that formulates, manufactures, and distributes specialty chemicals to industries such as electronics, industrial wood preservation, and industrial lubrication.

On August 15, 2018, the Company and Cabot Microelectronics Corporation issued a press release announcing the
Proposed Merger, pursuant to which each share of KMG common stock will be exchanged for $55.65 in cash and 0.2 shares of Cabot common stock.

The Complaint alleges that on September 12, 2018, in order to convince KMG shareholders to vote in favor of the Proposed Merger, the Board authorized the filing of a materially incomplete and misleading Registration Statement on Form S-4 (the “S-4”) with the Securities and Exchange Commission (“SEC”), in violation of Sections 14(a) and 20(a) of the Exchange Act. In particular, the Complaint alleges that the S-4 contains materially incomplete and misleading information concerning the Company’s financial projections, which were relied upon by the Board in
recommending shareholders vote in favor of the Proposed Merger and utilized by the Company’s financial advisor in rendering its fairness opinion.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Chemical Manufacturing
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: KMG
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: N.D. Texas
DOCKET #: 18-CV-00785
JUDGE: Hon. Reed C. O'Connor
DATE FILED: 09/24/2018
CLASS PERIOD START: 08/15/2018
CLASS PERIOD END: 09/24/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Balon B. Bradley Law Firm
    5473 Blair Road, Suite 100 , Balon B. Bradley Law Firm, TX 75231
    972/991-1582 972/755-0424 ·
  2. Faruqi & Faruqi LLP (New York)
    685 3rd Avenue 26th Floor, Faruqi & Faruqi LLP (New York), NY
    212..983.9330 212..983.9331 ·
No Document Title Filing Date