On or around 09/16/2019 (Date of last review)
Filing Date: September 13, 2019
According to the Complaint, Castle Brands together with its subsidiaries, develops, markets, imports,and sells beverage alcohol and non-alcoholic beverage products in the United States, Canada, Europe, and Asia.
On August 28, 2019, Castle Brands and Pernod Ricard S.A. issued a press release announcing that Castle Brands had agreed to be acquired by Pernod in the Proposed Transaction.
On September 9, 2019, Castle Brands filed a Solicitation/Recommendation Statement on Schedule 14D-9 with the Securities and Exchange Commission in support of the Proposed Transaction.
The Complaint alleges that the 14D-9 is materially deficient and deprives Castle Brands stockholders of the information they need to make an intelligent, informed and rational decision of whether to tender their shares in favor of the Proposed Transaction. Specificially, the Complaint alleges that the 14D-9 omits and/or misrepresents material information concerning, among other things: (a) the Company’s financial projections; (c) the sales process of the Company; and (c) the data and inputs underlying the financial valuation analyses that purport to support the fairness opinions provided by the Company’s financial advisors.
Company & Securities Information
Defendant: Castle Brands, Inc.
Sector: Consumer Non-Cyclical
Industry: Beverages (Alcoholic)
Headquarters: United States
Ticker Symbol: ROX
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.
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Class Action Complaint For: Violation Of Sec. 14(d) and 14(e) of the Securities Exchange Act of 1934 (2) Violation of Section 20(a) of the Securities Exchange Act of 1934 (3) Breach Of Fiduciary Duties
U.S. District Court Civil Docket
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Related District Court Filings
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