Robbins Umeda LLP* Announces Class Action Lawsuit Against Cooper Industries plc
Robbins Umeda LLP announces that the firm commenced a class action lawsuit on July 9, 2012, in the U.S. District Court for the Northern District of Ohio, Eastern Division, on behalf of all persons who hold common stock of Cooper Industries plc (“Cooper Industries”) (NYSE: CBE) against Cooper Industries and its board of directors for, among other things, violations of sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 in connection with the proposed acquisition of Cooper Industries by Eaton Corporation (NYSE: ETN) (“Eaton”).
The complaint arises out of a May 21, 2012 press release announcing that Cooper Industries had entered into a definitive merger agreement with Eaton, pursuant to which Cooper Industries shareholders would receive cash and shares valued at $72.00 for each share of Cooper Industries they own (the “Proposed Acquisition”).
The complaint alleges that certain of the defendants, in an attempt to secure shareholder approval of the Proposed Acquisition, filed a materially misleading Preliminary Proxy on Schedule 14A with the U.S. Securities and Exchange Commission in violation of sections 14(a) and 20(a) of the Securities Exchange Act of 1934. The omitted and/or misrepresented information is believed to be material in assisting Cooper Industries shareholders in making an informed decision about whether or not to vote in favor of the Proposed Acquisition.
Plaintiff seeks injunctive relief on behalf of all Cooper Industries shareholders as of May 21, 2012 (the “Class”). The plaintiff is represented by Robbins Umeda LLP.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from July 10, 2012. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Gregory E. Del Gaizo, Esq. of Robbins Umeda LLP at 800-350-6003 or via the shareholder information form. Any member of the 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 member.
Robbins Umeda 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.
* The firm name changed from Robbins Umeda LLP to Robbins Arroyo LLP on January 1, 2013.