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.
Company & Securities Information
Defendant: Delphi Technologies PLC
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
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First Identified Complaint
Bruce Sherman, et al. v. Delphi Technologies PLC, et al.
COURT: D. Delaware
DOCKET #: 20-CV-00385
JUDGE: Hon. Richard G. Andrews
DATE FILED: 03/18/2020
CLASS PERIOD START: 01/28/2020
CLASS PERIOD END: 03/18/2020
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
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available