On or around 01/11/2019 (Notice of voluntarily dismissal)
Filing Date: November 09, 2018
According to the Complaint, Nevsun is a mid-tier base metals company with its principal executive offices located in Vancouver, British Columbia. The Company operates Bisha, a high-grade open pit copper-zinc mine, and is developing the Timok copper-gold project.
On September 5, 2018, Nevsun issued a press release announcing that the Company had entered an agreement in connection with the Proposed Transaction. Pursuant to the terms of the agreement Zijin will make a take-over bid to acquire all of the issued and outstanding shares of Nevsun for C$6.00 per share in cash. The offer is valued at C$1.86 billion (US$1.41 billion). The Company received financial opinions from BMO Nesbitt Burns Inc. (“BMO”) and Citigroup Global Markets Inc. (“Citi”) in connection with the Proposed Transaction.
On September 14, 2018, the Company filed the Solicitation Statement and associated exhibits with the SEC. The Solicitation Statement recommends that the Company’s stockholders tender their shares in favor of the Proposed Transaction. The Complaint alleges that the Solicitation Statement misrepresents and/or omits material information that is necessary for the Company’s shareholders to make informed decisions concerning whether to tender their shares in favor of the Proposed Transaction.
This case was voluntarily dismissed on January 11, 2019.
Company & Securities Information
Defendant: Nevsun Resources Ltd.
Sector: Basic Materials
Industry: Metal Mining
Ticker Symbol: NSU
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
Tammy Raul, et al. v. Nevsun Resources Ltd., et al.
COURT: S.D. New York
DOCKET #: 18-CV-10420
JUDGE: Hon. Paul A. Engelmayer
DATE FILED: 11/09/2018
CLASS PERIOD START: 09/05/2018
CLASS PERIOD END: 11/09/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Lifshitz & Miller
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available