AK Steel Holding Corporation Securities Litigation
On or around 03/06/2020 (Notice of voluntarily dismissal)
Filing Date: January 17, 2020
According to the Complaint, AK Steel is a leading producer of flat-rolled carbon, stainless, and electrical steel products, primarily for the automotive, infrastructure and manufacturing, including electrical power, and distributors and converters markets.
This action stems from a proposed transaction announced on December 3, 2019, pursuant to which AK Steel Holding Corporation will be acquired by Cleveland-Cliffs Inc.
On December 2, 2019, AK Steel’s Board of Directors caused the Company to enter into an agreement and plan of merger with Cleveland-Cliffs. Pursuant to the terms of the Merger Agreement, AK Steel’s stockholders will receive 0.40 shares of Parent common stock for each share of AK Steel common stock they own.
On January 8, 2020, 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 March 6, 2020.
Company & Securities Information
Defendant: AK Steel Holding Corporation
Sector: Basic Materials
Industry: Iron & Steel
Headquarters: United States
Ticker Symbol: AKS
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
Adam Franchi, et al. v. AK Steel Holding Corporation, et al.
COURT: D. Delaware
DOCKET #: 20-CV-00078
JUDGE: Hon. Leonard P. Stark
DATE FILED: 01/17/2020
CLASS PERIOD START: 12/03/2019
CLASS PERIOD END: 01/17/2020
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