Case Page

 

Case Status:    ONGOING    
On or around 11/07/2018 (Ongoing date of last review)

Filing Date: November 02, 2018

According to the Complaint, Engility came to be in July 2012, after being spun-off from L-3 Communications Holdings, Inc. (now L3 Technologies). At that time, Engility provided engineering, training, program management and operational support for the U.S. government. In January 2014, Engility acquired Dynamics Research Corporation, expanding the Company’s capabilities in homeland security, intelligence, healthcare, research and development, and financial regulation. Approximately one year later, Engility acquired TASC, Inc. That acquisition expanded the Company’s portfolio, specifically in the fields of intelligence and aerospace. Now, Engility focuses on three business groups: intelligence; space and mission systems; and defense and security. Almost all of Engility’s revenue comes from the U.S. government.

On September 10, 2018, Engility and SAIC announced that they had entered into a definitive merger agreement (the “Merger Agreement”) pursuant to which SAIC will acquire all of the outstanding shares of common stock of Engility through an all-stock transaction. Engility stockholders will receive 0.450 shares of SAIC common stock for each share of Engility stock that they hold (the “Merger Consideration”). The deal is valued at approximately $2.5 billion and is expected to close by the end of the fiscal quarter ending February 1, 2019.

The Complaint alleges that Defendants have violated the Exchange Act by causing a materially incomplete and misleading registration statement (the “S-4”) to be filed with the Securities and Exchange Commission (“SEC”) on October 18, 2018. The S-4 recommends that Engility stockholders vote in favor of a proposed transaction (the “Proposed Transaction”) whereby Engility is acquired by SAIC.

COMPANY INFORMATION:

Sector: Services
Industry: Business Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: EGL
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-01737
JUDGE: Hon. Maryellen Noreika
DATE FILED: 11/02/2018
CLASS PERIOD START: 09/10/2018
CLASS PERIOD END: 11/02/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. O'Kelly Ernst & Joyce, LLC
    901 N. Market Street, Suite 1000, O'Kelly Ernst & Joyce, LLC, DE
    ·
  2. Rowley Law PLLC
    50 Main Street, Suite 1000, Rowley Law PLLC, NY 10606
    914.400.1920 914.301.3514 ·
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available