Cases
Outerwall, Inc.
Merger
Overview
Overview
- Date:
- 9/2/2016
- Company Name:
- Outerwall, Inc.
- Stock Symbol:
- OUTR
- Company Name - Buyer:
- Apollo
- Class Period:
- FROM 7/25/2016 TO 1/1/1900
- Status:
- Closed/Complete
- Merger Announcement Date:
- 7/25/2016
- Court:
- U.S. District Court: Disrtict of Western Washington
On July 25, 2016, Outerwall and Apollo announced that they had entered into a definitive agreement pursuant to which an affiliate of Apollo commenced a tender offer to purchase all of the outstanding shares of Outerwall common stock for $52.00 in cash for each share of Outerwall common stock ("Proposed Transaction"). The complaint seeks injunctive relief on behalf of the named plaintiff and all Outerwall shareholders. The plaintiff is represented by WeissLaw, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
The complaint alleges that in an attempt to secure shareholder approval for the merger, the defendants filed a materially false and/or misleading Recommendation Statement with the SEC in violation of the Exchange Act. The omitted and/or misrepresented information is believed to be material to Outerwall shareholders' ability to make an informed decision whether to approve the Proposed Transaction.
The complaint alleges that in an attempt to secure shareholder approval for the merger, the defendants filed a materially false and/or misleading Recommendation Statement with the SEC in violation of the Exchange Act. The omitted and/or misrepresented information is believed to be material to Outerwall shareholders' ability to make an informed decision whether to approve the Proposed Transaction.