On or around 07/29/2019 (Notice of voluntarily dismissal)
Filing Date: July 16, 2019
According to the Complaint, Barnes & Noble is the nation’s largest retail bookseller, and a leading retailer of content, digital media, and educational products.
This action stems from a proposed transaction announced on June 7, 2019, pursuant to which Barnes & Noble, Inc. will be acquired by affiliates of Elliott Advisors (UK) Limited, Chapters HoldCo Inc.
On June 6, 2019, Barnes & Noble’s Board of Directors caused the Company to enter into an agreement and plan of merger with Chapters. Pursuant to the terms of the Merger Agreement, Barnes & Noble’s stockholders will receive $6.50 in cash for each share of Barnes & Noble common stock they own.
On July 9, 2019, Defendants filed a Solicitation/Recommendation Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction.
The Complaint alleges that the Solicitation Statement omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading.
This case was voluntarily dismissed on July 29, 2019.
Company & Securities Information
Defendant: Barnes & Noble, Inc.
Industry: Retail (Specialty)
Headquarters: United States
Ticker Symbol: BKS
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
Richard Scarantino, et al. v. Barnes & Noble, Inc., et al.