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Case Status:    DISMISSED    
On or around 04/20/2020 (Notice of voluntarily dismissal)

Filing Date: March 10, 2020

According to the Complaint, Stein Mart, Inc. is a specialty offprice retailer, offers designer and name-brand fashion apparels, home décor merchandise, accessories, and shoes at everyday discount prices in the Unites States.

On January 31, 2020, Stein Mart announced the Proposed Transaction by which Stratosphere Holdco, LLC, through its wholly-owned subsidiary Stratosphere Merger Sub, Inc., will acquire all of the outstanding shares of Stein Mart common stock, in compensation for which Stein Mart stockholders will be entitled to receive $0.90 per share in cash.

On March 2, 2020, Stein Mart filed a Preliminary Proxy Statement on Schedule 14A with the SEC in support of the Proposed Transaction. The Complaint alleges that the Preliminary Proxy Statement omits and/or misrepresents material information concerning, among other things: (a) the sales process and certain conflicts of interest for management; (b) the financial projections for Stein Mart, provided by Stein Mart to the Company’s financial advisor for use in its financial analyses; and (c) the data and inputs underlying the financial valuation analyses that purport to support the fairness opinion provided by the Company’s financial advisor.

This case was voluntarily dismissed on April 20, 2020.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Apparel/Accessories
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SMRT
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.
COURT: S.D. New York
DOCKET #: 20-CV-02126
JUDGE: Hon. Mary Kay Vyskocil
DATE FILED: 03/10/2020
CLASS PERIOD START: 01/31/2020
CLASS PERIOD END: 03/10/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brodsky & Smith, LLC (New York)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available