On or around 04/30/2020 (Other)
Filing Date: March 26, 2020
According to the Complaint, Pope Resources and its subsidiaries, Olympic Resource Management and Olympic Property Group, own and manage 125,000 acres of timberland and higher-and-better-use properties in Washington.
On January 14, 2020, Pope Resources' Board of Directors caused the Partnership to enter into an agreement and plan of merger with Rayonier, Inc.
On March 17, 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. Specifically, the Complaint alleges that the Registration Statement fails to disclose: (i) all line items used to calculate (a) adjusted EBITDA and (b) unlevered free cash flow; and (ii) a reconciliation of all non-GAAP to GAAP metrics. Additionally, the Complaint alleges that the Registration Statement omits material information regarding the analyses performed by the Partnership’s financial advisor in connection with the Proposed Transaction.
This case was voluntarily dismissed on April 29, 2020.
Company & Securities Information
Defendant: Pope Resources
Sector: Basic Materials
Industry: Forestry & Wood Products
Headquarters: United States
Ticker Symbol: POPE
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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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
John Thompson, et al. v. Pope Resources, et al.
COURT: D. Delaware
DOCKET #: 20-CV-00432
JUDGE: Hon. Maryellen Noreika
DATE FILED: 03/26/2020
CLASS PERIOD START: 01/14/2020
CLASS PERIOD END: 03/26/2020
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
Plaintiff's Notice of Voluntary Dismissal
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