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Stanford Law School Securities Class Action Clearinghouse a Collaboration with Cornerstone Research

Case Page

 

Tower International, Inc.

Case Summary

Tower International, Inc. Securities Litigation

Case Summary

Case Status:    DISMISSED  
—On or around 10/09/2019 (Notice of voluntarily dismissal)
Current/Last Presiding Judge:  
Hon. Leonard P. Stark

Filing Date: August 20, 2019

According to the Complaint, Tower International, Inc. is a leading manufacturer of engineered automotive structural metal components and assemblies primarily serving original equipment manufacturers.

This action stems from a proposed transaction announced on July 12, 2019, pursuant to which Tower will be acquired by Autokiniton US Holdings, Inc.

On July 12, 2019, Tower’s Board of Directors caused the Company to enter into an agreement and plan of merger with Autokiniton.

On August 15, 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 October 9, 2019.

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