On or around 09/26/2019 (Date of last review)
Filing Date: September 13, 2019
According to the Complaint, Oritani Financial Corp. is the holding company for Oritani Bank, a New Jersey state chartered bank that offers a full range of retail and commercial loan and deposit products.
This action stems from a proposed transaction announced on June 26, 2019, pursuant to which Oritani Financial Corp. will be acquired by Valley National Bancorp.
On June 25, 2019, Oritani’s Board of Directors caused the Company to enter into an agreement and plan of merger with Valley. Pursuant to the terms of the Merger Agreement, Oritani’s stockholders will receive 1.60 shares of Valley common stock for each share of Oritani common stock they own.
On August 30, 2019, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.
This case was voluntarily dismissed on September 26, 2019.
Company & Securities Information
Defendant: Oritani Financial Corp.
Industry: Regional Banks
Headquarters: United States
Ticker Symbol: ORIT
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
Paul Parshall, et al. v. Oritani Financial Corp., et al.
COURT: D. Delaware
DOCKET #: 19-CV-01729
JUDGE: Hon. Leonard P. Stark
DATE FILED: 09/13/2019
CLASS PERIOD START: 06/26/2019
CLASS PERIOD END: 09/13/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Rigrodsky & Long, P.A. (Wilmington)
RM Law, P.C. (Berwyn)
First Identified Complaint (FIC) Filings:
Complaint for Violation of the Securities Exchange Act of 1934
U.S. District Court Civil Docket
Plaintiff's Notice of Voluntary Dismissal
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available