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Case Status:    DISMISSED    
On or around 06/25/2020 (Other)

Filing Date: March 18, 2020

According to the Complaint, Delphi Technologies PLC is a global provider of propulsion technologies.

This action stems from a proposed transaction announced on January 28, 2020, pursuant to which Delphi Technologies PLC will be acquired by BorgWarner Inc.

On January 28, 2020, Delphi’s Board of Directors caused the Company to enter into an agreement and plan of merger with BorgWarner. Pursuant to the terms of the Merger Agreement, Delphi’s stockholders will receive 0.4534 shares of BorgWarner common stock for each share of Delphi common stock they own.

On March 11, 2020, Defendants filed a proxy statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading. Specifically, the Complaint alleges that the Proxy Statement fails to disclose: (i) all line items used to calculate (a) Adjusted Operating Income, (b) EBITDA, (c) Adjusted EBITDA, and (d) Unlevered Free Cash Flow; and (ii) a reconciliation of all non-GAAP to GAAP metrics.

This case was voluntarily dismissed on June 24, 2020.


Sector: Consumer Cyclical
Industry: Auto & Truck Parts
Headquarters: United Kingdom


Ticker Symbol: DLPH
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.
COURT: D. Delaware
DOCKET #: 20-CV-00385
JUDGE: Hon. Richard G. Andrews
DATE FILED: 03/18/2020
CLASS PERIOD END: 03/18/2020
  1. Rigrodsky & Long, P.A. (Wilmington)
  2. RM Law, P.C. (Berwyn)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available