Cases
Joy Global, Inc. (NYSE : JOY)
Merger
Overview
Overview
- Date:
- 9/8/2016
- Company Name:
- Joy Global, Inc.
- Stock Symbol:
- JOY
- Company Name - Buyer:
- Pine Solutions, Inc.
- Class Period:
- FROM 9/1/2016
- Status:
- Closed/Complete
- Merger Announcement Date:
- 7/21/2016
- Court:
- U.S. District Court: District of Eastern Wisconsin
NEW YORK, September 8, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Wisconsin Eastern District Court on behalf of all persons or entities who held Joy Global, Inc. (NYSE: JOY) securities on September 1, 2016 (the “Class Period”).
On July 21, 2016, the Company announced it had entered into an Agreement and Plan of Merger pursuant to which Joy will merge with Pine Solutions, Inc., a wholly owned subsidiary of Komatsu, and will thereafter continue as the surviving corporation. The shareholder vote on the Proposed Transaction is expected to occur October 19, 2016.
Pursuant to the terms of the Merger Agreement, which was unanimously approved by the Board, Joy shareholders will receive $28.30 in cash per share for each share of Joy they own. The complaint claims that this offer is inadequate in light of the Company's recent financial performance and strong growth prospects, and that the Schedule 14A Definitive Proxy that was filed with the SEC soliciting shareholder votes provides materially incomplete and misleading information about the Company's financials and the fairness of the Proposed Transaction, in violation of Sections 14(a) and 20(a) of the Exchange Act.
If you held Joy securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On July 21, 2016, the Company announced it had entered into an Agreement and Plan of Merger pursuant to which Joy will merge with Pine Solutions, Inc., a wholly owned subsidiary of Komatsu, and will thereafter continue as the surviving corporation. The shareholder vote on the Proposed Transaction is expected to occur October 19, 2016.
Pursuant to the terms of the Merger Agreement, which was unanimously approved by the Board, Joy shareholders will receive $28.30 in cash per share for each share of Joy they own. The complaint claims that this offer is inadequate in light of the Company's recent financial performance and strong growth prospects, and that the Schedule 14A Definitive Proxy that was filed with the SEC soliciting shareholder votes provides materially incomplete and misleading information about the Company's financials and the fairness of the Proposed Transaction, in violation of Sections 14(a) and 20(a) of the Exchange Act.
If you held Joy securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.