On or around 05/11/2020 (Date of last review)
Filing Date: April 15, 2019
According to the Complaint, Bemis is a supplier of flexible and rigid plastic packaging used by leading food, consumer products, healthcare, and other companies worldwide.
On August 6, 2018, Bemis and Amcor Limited issued a joint press release announcing they had entered into a Transaction Agreement dated August 6, 2018 (the “Transaction Agreement”). Pursuant to the terms of the Transaction Agreement, each share of Bemis common stock will be converted into the right to receive 5.1 New Amcor shares.
On March 27, 2019, Bemis filed a Definitive Proxy Statement on Form DEFM 14A (“Proxy Statement”) with the SEC in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement, which recommends that Bemis stockholders vote in favor of the Proposed Transaction, omits or misrepresents material information concerning, among other things: (i) the financial analyses performed by the Company’s financial advisor; (ii) the background of the Proposed Transaction; and (iii) Bemis insiders’ and the financial advisor’s potential conflicts of interest.
On March 10, 2020, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on May 11.
Company & Securities Information
Defendant: Bemis Company, Inc.
Sector: Basic Materials
Industry: Containers & Packaging
Headquarters: United States
Ticker Symbol: BMS
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.
First Identified Complaint
Michael Dixon, et al. v. Bemis Company, Inc., et al.