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Cooper Tire & Rubber Company Investors: Cooper Tire Misled Investors According to a Newly Filed Class Action

Cooper Tire & Rubber Company Investors: Cooper Tire Misled Investors According
                        to a Newly Filed Class Action

PR Newswire

SAN DIEGO and FINDAY, Ohio, Feb. 4, 2014

SAN DIEGO and FINDAY, Ohio, Feb. 4, 2014 /PRNewswire/ -- Shareholder rights
law firm Robbins Arroyo LLP announces that an investor of Cooper Tire & Rubber
Company (NYSE: CTB) has filed a federal securities fraud class action
complaint in the U.S. District Court for the District of Delaware. The
complaint alleges that the company and certain of its officers violated the
Securities and Exchange Act of 1934 harming those who purchased Cooper common
stock between June 12, 2013 and November 8, 2013 (the "Class Period"), and
Cooper stockholders of record as of the close of business on August 30, 2013
(the "Record Date"). 

(Logo:http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)

Cooper Is Accused of Failing to Disclose Risks Associated with Failed Apollo
Merger

According to the complaint, Cooper shares fell $5.55, to close at $25.72 on
October 7, 2013, on news that the Cooper's previously announced plan to
complete a merger with Apollo Tyres Ltd. at $35 per share was in jeopardy
causing Cooper to file a lawsuit seeking to force Apollo to close on the
merger. On November 8, 2013, the Court refused to require Apollo to closer
the merger and Cooper shares fell $3.08 to close at $23.82 on November 8,
2013. 

Specifically, the complaint alleges that Cooper executives concealed the fact
that the planned Apollo merger was opposed by Chengshan Group, Cooper's joint
venture partner in its subsidiary, Cooper Chengshan Tire Company, Ltd.
("CCT"). Chengshan previously sought to acquire Cooper for itself and its
opposition to the deal made it highly unlikely that the merger would be
consummated according to the terms of the proxy statement filed by Cooper on
August 30, 2013. Further, Cooper allegedly concealed the company's lack of
actual control over its CCT subsidiary, which was a critical part of the deal
as it provided Apollo with a gateway to the Chinese market. As a result,
Cooper issued statements throughout the Class Period that were materially
false and misleading and caused investors to suffer financial losses.

Cooper Shareholders Are Encouraged to Contact Shareholder Rights Law Firm
Robbins Arroyo

If you invested in Cooper and would like to discuss your shareholder rights,
please contact attorney Darnell R. Donahue at (800) 350-6003,
DDonahue@robbinsarroyo.com, or via the information form on the firm's
shareholder rights blog:
http://www.robbinsarroyo.com/shareholders-rights-blog/cooper-tire-rubber-company

Robbins Arroyo LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.

Attorney Advertising.Past results do not guarantee a similar outcome.

Contact:
Darnell R. Donahue
Robbins Arroyo LLP
DDonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com

SOURCE Robbins Arroyo LLP

Website: http://www.robbinsarroyo.com
 
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