On or around 09/02/2020 (Date of last review)
Filing Date: September 01, 2020
According to the Complaint, On Deck Capital, Inc. offers a range of term loans and lines of credit customized for small business owners. The Company also offers bank clients a technology and services platform that facilitates online lending to small business customers through ODX, a wholly-owned subsidiary.
This action stems from a proposed transaction announced on July 28, 2020, pursuant to which On Deck Capital, Inc. will be acquired by Enova International, Inc. On July 28, 2020, On Deck’s Board of Directors caused the Company to enter into an agreement and plan of merger with Enova. Pursuant to the terms of the Merger Agreement, On Deck’s stockholders will receive 0.092 shares of Parent common stock and $0.12 in cash for each share of On Deck common stock they own.
On August 25, 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.
Company & Securities Information
Defendant: On Deck Capital, Inc.
Industry: Misc. Financial Services
Headquarters: United States
Ticker Symbol: ONDK
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.
First Identified Complaint
Eric Sabatini, et al. v. On Deck Capital, Inc., et al.
COURT: D. Delaware
DOCKET #: 20-CV-01166
JUDGE: Hon. Maryellen Noreika
DATE FILED: 09/01/2020
CLASS PERIOD START: 07/28/2020
CLASS PERIOD END: 09/01/2020
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