On or around 03/12/2019 (Notice of voluntarily dismissal)
Filing Date: January 09, 2019
According to the Complaint, Finisar designs and sells products that support optical communications, including optical cables, communication components, sensing components and optical transceivers. Cisco Systems, Google, and Huawei are the Company’s largest customers; other customers include Broadcom, Hewlett Packard Enterprise, and IBM.
The Proposed Transaction was first disclosed on November 9, 2018, when Finisar and II-VI Incorporated ("II-VI") announced that they had entered into a definitive merger agreement (the “Merger Agreement”) pursuant to which II-VI will acquire all of the outstanding shares of common stock of Finisar for $15.60 in cash and 0.2218 shares of II-VI common stock (the “Merger Consideration”). The deal is valued at approximately $3.2 billion and is expected to close in the middle of 2019.
On December 28, 2018, Defendants filed the Proxy with the SEC. The Complaint alleges that significant and material facts were not provided to Plaintiff and the Class. Without such information, Finisar shareholders cannot make a fully informed decision concerning whether or not to vote in favor of the Proposed Transaction.
This case was voluntarily dismissed on March 12, 2019.
Company & Securities Information
Defendant: Finisar Corporation
Industry: Communications Equipment
Headquarters: United States
Ticker Symbol: FNSR
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
Pete Tenvold, et al. v. Finisar Corporation, et al.