Morgan & Morgan Announces That a Class Action Lawsuit Has Been Filed Against
Cooper Tire & Rubber Company -- CTB
NEW YORK, Feb. 7, 2014 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that a
class action has been filed in the United States District Court for the
District of Delaware, on behalf of all purchasers of the common stock of
Cooper Tire & Rubber Company ("Cooper Tire" or "Company") (NYSE:CTB).
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").
If you purchased Cooper Tire during the Class Period, you may, no later than
March 18, 2014, request that the Court appoint you lead plaintiff of the
proposed class.A lead plaintiff is a representative party that acts on behalf
of other class members in directing the litigation. Any member of the
purported class may move the Court to serve as lead plaintiff through counsel
of their choice, or may choose to do nothing and remain an absent class
If you want more information about the Cooper Tire Lawsuit contact George
Pressly, Esq. at 1-800-631-6234 or AskGeorge@morgansecuritieslaw.com.
According to the complaint, Cooper shares fell $5.55, to close at $25.72 on
October 7, 2013, following news that 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 close the
merger and Cooper shares fell $3.08 to close at $23.82 on November 8, 2013.
The complaint also 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.As a result, Cooper issued statements throughout the Class Period that
were materially false and misleading and caused investors to suffer financial
About Morgan & Morgan
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to
securities fraud, the firm also practices in the areas of antitrust, personal
injury, consumer protection, wage and hour, and product liability.All of the
Firm's legal endeavors are rooted in its core mission: provide investor and
consumer protection and always fight "for the people."
Attorney advertising.Prior results do not guarantee a similar outcome.
CONTACT: Morgan & Morgan
Peter Safirstein, Esq.
28 West 44th Street
New York, NY 10036
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