On or around 01/04/2019 (Notice of voluntarily dismissal)
Filing Date: October 16, 2018
According to the Complaint, Beneficial Bancorp, Inc. ("Beneficial" or the Company) is a is a community-based, diversified financial services company providing consumer and commercial banking services.
On August 8, 2018, Beneficial and WSFS Financial Corporation ("WSFS") issued a joint press release announcing the Proposed Transaction, whereby WSFS will combine with Beneficial. The Complaint alleges that on September 27, 2018, in order to convince Beneficial’s public common shareholders to vote in favor of the Proposed Transaction, Defendants authorized the filing of a materially incomplete and misleading Form S-4 Registration Statement (the “Proxy”) with the SEC, in violation of Sections 14(a) and 20(a) of the Exchange Act. The Complaint alleges that in particular, the Proxy contains materially incomplete and misleading information concerning: (i) financial projections for Beneficial; and (ii) the valuation analyses performed by Beneficial’s financial advisor in support of their fairness opinion.
This case was voluntarily dismissed as moot on January 4, 2019.
Company & Securities Information
Defendant: Beneficial Bancorp, Inc.
Industry: Regional Banks
Headquarters: United States
Ticker Symbol: BNCL
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.
First Identified Complaint
Mark Dappollone, et al. v. Beneficial Bancorp, Inc., et al.
COURT: S.D. New York
DOCKET #: 18-CV-09395
JUDGE: Hon. Paul G. Gardephe
DATE FILED: 10/16/2018
CLASS PERIOD START: 08/08/2018
CLASS PERIOD END: 10/16/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Monteverde & Associates PC
First Identified Complaint (FIC) Filings:
Complaint for Violation of the Securities Exchange Act of 1934
U.S. District Court Civil Docket
Notice of Voluntary Dismissal
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available