Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit on Behalf of
Investors of Cooper Tire & Rubber Company
LOS ANGELES -- January 24, 2014
Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been
filed in the United States District Court for the District of Delaware on
behalf of a class (the “Class”) comprising all purchasers of the common stock
of Cooper Tire & Rubber Company (“Cooper Tire” or the “Company”) (NYSE:CTB)
between June 12, 2013 and November 8, 2013, inclusive (the “Class Period”).
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW &
GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212)
682-5340, OR BY EMAIL TO SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER OR
OTHER POTENTIAL CLAIMS IF YOU PURCHASED COOPER TIRE STOCK PRIOR TO JUNE 12,
2013. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE
NUMBER AND NUMBER OF SHARES PURCHASED.
Cooper Tire, together with its subsidiaries, manufactures and markets
replacement tires worldwide. The Complaint alleges that defendants issued a
series of materially misleading statements and failed to disclose material
adverse facts in connection with the proposed acquisition of the Company by
Apollo Tyres Ltd. ("Apollo"), announced on June 12, 2013 (the “Merger”).
Specifically, the Complaint alleges that the Company and certain of its
executive officers misrepresented or failed to disclose significant risks
associated with the Merger because the Company lacked control over its most
important subsidiary, Cooper Chengshan Tire Company, Ltd. ("CCT"), and that
Cooper Tire's joint venture partner, Chengshan Group, which had a 35% interest
in CCT, opposed the Merger and had sought to acquire Cooper Tire for itself.
The Complaint further alleges that Cooper Tire misrepresented its financial
condition, financial prospects and the effectiveness of the Company's internal
On September 30, 2013, Cooper Tire shareholders voted to approve the Merger.
Beginning on October 4, 2013, a series of disclosures alerted investors to the
fact that the Merger was imperiled. On October 7, 2013, Cooper Tire filed a
Form 8-K with the Securities and Exchange Commission revealing that the Merger
was in jeopardy and that the Company 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 Tire's request for an order requiring Apollo to
close on the Merger. In response to these disclosures, Cooper Tire stock fell
from $31.27 per share on October 3, 2013, to close at $23.82 per share on
November 8, 2013.
If you are a member of the Class described above, you may move the Court no
later than March 18, 2014, to serve as lead plaintiff; however, you must meet
certain legal requirements. If you wish to learn more about this action, or if
you are a long-term shareholder of Cooper Tire and have any questions
concerning this announcement or your rights or interests with respect to these
matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg
LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067,
Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy
Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York
10168, at (212) 682-5340, by e-mail to firstname.lastname@example.org, or visit
our website at http://www.glancylaw.com. If you inquire by email, please
include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CA
Michael Goldberg, 888-773-9224
Glancy Binkow & Goldberg LLP, New York, NY
Gregory Linkh, 212-682-5340
Press spacebar to pause and continue. Press esc to stop.