Processing your request


please wait...

Case Page

 

Case Status:    ONGOING    
On or around 09/02/2020 (Date of last review)

Filing Date: September 01, 2020

According to the Complaint, Otelco Inc. provides wireline telecommunications services in Alabama, Maine, Massachusetts, Missouri, New Hampshire, Vermont, and West Virginia.

This action stems from a proposed transaction announced on July 27, 2020, pursuant to which Otelco Inc. (“Otelco” or the “Company”) will be acquired affiliates of Oak Hill Capital Partners V. On July 26, 2020, Otelco’s Board of Directors caused the Company to enter into an agreement and plan of merger with Future Fiber FinCo, Inc. (“Parent”) and Olympus Merger Sub, Inc. (“Merger Sub”). Pursuant to the terms of the Merger Agreement, Otelco’s stockholders will receive $11.75 in cash for each share of Otelco Class A common stock they own.

On August 20, 2020, Defendants filed a proxy statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

COMPANY INFORMATION:

Sector: Services
Industry: Communications Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: OTEL
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: D. Delaware
DOCKET #: 20-CV-01165
JUDGE: Hon. Maryellen Noreika
DATE FILED: 09/01/2020
CLASS PERIOD START: 07/27/2020
CLASS PERIOD END: 09/01/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  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