|By Marketwired .||
|January 17, 2014 07:05 PM EST||
NEW YORK, NY -- (Marketwired) -- 01/17/14 -- Entwistle & Cappucci LLP ("Entwistle & Cappucci") and Bernstein Litowitz Berger & Grossmann LLP ("BLB&G") today announced that they have filed a securities class action lawsuit on behalf of investors in Cooper Tire & Rubber Company ("Cooper" or the "Company") against Cooper and certain of its senior executives (collectively, "Defendants") in the U.S. District Court for the District of Delaware. As set forth in the Complaint, the class includes: (i) all purchasers of Cooper's publicly traded stock from June 12, 2013 through November 8, 2013, inclusive (the "Class Period"), and (ii) all Cooper shareholders who held shares as of the record date of August 30, 2013 and were entitled to vote with respect to the proposed merger between Cooper and Apollo Tyres Ltd. ("Apollo"), and were damaged thereby. A copy of the Complaint can be found on the websites for counsel for the plaintiffs at www.entwistle-law.com and www.blbglaw.com.
The Complaint alleges that Defendants violated the federal securities laws by issuing a series of materially misleading statements and omissions in connection with the proposed acquisition of the Company by Apollo, an Indian-based tire company, announced on June 12, 2013 (the "Merger"). Among other things, Cooper falsely represented the significant risks associated with the Merger by concealing the fact that the Company lacked control over its most important subsidiary, Cooper Chengshan Tire Company, Ltd. ("CCT"). Further, the Complaint alleges that Defendants concealed the fact that Cooper's joint venture partner, Chengshan Group, which had a 35% interest in CCT, opposed the Merger, and had in fact sought to acquire Cooper for itself. In addition, the Complaint alleges that Cooper misrepresented Cooper's financial condition, financial prospects, and the effectiveness of the Company's internal controls. These and similar misrepresentations and omissions were included in the proxy statement Cooper issued on August 30, 2013, seeking shareholder approval of the Merger (the "Proxy Statement"), as well as in other communications soliciting shareholder approval of the deal.
Cooper shareholders voted to approve the Merger on September 30, 2013. Beginning on October 4, 2013, a series of disclosures alerted investors to the fact that the Merger was imperiled. On October 7, 2014, Cooper filed a Form 8-K with the SEC which included a press release revealing that the Merger was in jeopardy and that Cooper had filed a lawsuit against Apollo in an attempt to force Apollo to close the deal. On November 8, 2013, the Delaware Chancery Court denied Cooper's request for an order requiring Apollo to close on the Merger, holding that Apollo had not breached the Merger agreement. In response to these disclosures, Cooper stock fell significantly, falling from $31.27 per share on October 3, 2013, to close at $23.82 per share on November 8, 2013.
The Complaint alleges that Defendants violated Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder for the false and misleading statements and omissions issued by the Defendants during the Class Period. The Complaint also alleges that Defendants violated Section 14(a) of the Exchange Act and Rule 14a-9 promulgated thereunder for the material misstatements and omissions included in the Proxy Statement, as well as other communications issued in connection with Cooper's solicitation of shareholders' approval of the Merger. In addition, the Complaint alleges that Defendants Chief Executive Officer Roy Armes and Chief Financial Officer Bradley Hughes violated Section 20(a) of the Exchange Act.
If you wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than 60 days from today. Accordingly, the deadline for filing a motion for appointment as Lead Plaintiff is March 18, 2014. Any member of the proposed Class may move the Court to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Vincent R. Cappucci of Entwistle & Cappucci at (212) 894-7200, or via e-mail at [email protected], or Gerald H. Silk of BLB&G at (212) 554-1282, or via e-mail at [email protected].
Entwistle & Cappucci has significant experience in both prosecuting and defending complex business, securities and antitrust actions. Entwistle & Cappucci's securities clients consist of institutions, including some of the largest investment management firms, mutual funds, venture capital firms, broker-dealers, corporate and public pension funds as well as Taft-Hartley entities. The firm has a seasoned team of litigation professionals specializing in a wide range of securities-related litigation, including private, class and derivative actions primarily involving disclosure issues under the federal and state securities statutes. More information about Entwistle & Cappucci can be found online at www.entwistle-law.com.
Since its founding in 1983, BLB&G has built an international reputation for excellence and integrity. Specializing in securities fraud, corporate governance, shareholders' rights, employment discrimination and civil rights litigation, among other practice areas, BLB&G prosecutes class and private actions on behalf of institutional and individual clients worldwide. Unique among its peers, BLB&G has obtained several of the largest and most significant securities recoveries in history, recovering billions of dollars on behalf of defrauded investors. More information about BLB&G can be found online at www.blbglaw.com.
Vincent R. Cappucci
Entwistle & Cappucci LLP
280 Park Avenue, 26th Floor West
New York, New York 10017
Telephone: (212) 894-7200
Gerald H. Silk
Bernstein Litowitz Berger & Grossmann LLP
1285 Avenue of Americas, 38th Floor
New York, New York 10019
Telephone: (212) 554-1282
Most organizations prioritize data security only after their data has already been compromised. Proactive prevention is important, but how can you accomplish that on a small budget? Learn how the cloud, combined with a defense and in-depth approach, creates efficiencies by transferring and assigning risk. Security requires a multi-defense approach, and an in-house team may only be able to cherry pick from the essential components. In his session at 19th Cloud Expo, Vlad Friedman, CEO/Founder o...
Jul. 26, 2016 04:30 AM EDT Reads: 1,866
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 26, 2016 04:15 AM EDT Reads: 1,224
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
Jul. 26, 2016 03:45 AM EDT Reads: 1,830
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Jul. 26, 2016 03:30 AM EDT Reads: 1,062
"We view the cloud not really as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 26, 2016 02:45 AM EDT Reads: 1,535
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
Jul. 26, 2016 02:00 AM EDT Reads: 1,325
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Jul. 26, 2016 01:45 AM EDT Reads: 2,192
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
Jul. 26, 2016 01:45 AM EDT Reads: 1,306
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, explained how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
Jul. 26, 2016 01:30 AM EDT Reads: 995
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 26, 2016 01:30 AM EDT Reads: 1,687
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 26, 2016 01:30 AM EDT Reads: 1,475
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Jul. 26, 2016 01:15 AM EDT Reads: 2,527
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Jul. 26, 2016 12:45 AM EDT Reads: 639
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Jul. 26, 2016 12:00 AM EDT Reads: 2,148
“delaPlex Software provides software outsourcing services. We have a hybrid model where we have onshore developers and project managers that we can place anywhere in the U.S. or in Europe,” explained Manish Sachdeva, CEO at delaPlex Software, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 26, 2016 12:00 AM EDT Reads: 1,544