Cooper the target of securities class action lawsuit
A securities class action lawsuit has been filed against Cooper Tire & Rubber and certain of the company’s senior executives by a number of investors. The lawsuit was filed in the US District Court for the District of Delaware.
The complaint alleges that Cooper violated the federal securities laws by issuing a series of materially misleading statements and omissions in connection with the proposed acquisition of the company by Apollo announced on 12 June, 2013. In addition, the complaint alleges that Cooper misrepresented Cooper’s financial condition, financial prospects, and the effectiveness of the Company’s internal controls.
Additionally, the complaint alleges that the company’s CEO Roy Armes and its chief financial officer Bradley Hughes violated Section 20(a) of the Exchange Act.
A copy of the complaint can be found on the websites for counsel for the plaintiffs at www.entwistle-law.com and www.blbglaw.com. Tire Review