Recent Securities Litigations
Jumei International Holding Limited (NYSE: JMEI)
According to the Complaint, Jumei retails beauty products, baby, children, and maternity products, light luxury products, and health supplements online.
On February 25, 2020, Jumei announced that it had entered into an agreement to be acquired by Super ROI Global Holding Limited (“Super ROI”), through Jumei Investment Holding Limited (“Purchaser”), through a tender offer and subsequent short-form merger for $2.00 per share, or $20.00 per American Depository Share (“ADS”). Super ROI and Purchaser commenced the tender offer on February 26, 2020, and Jumei’s Board of Directors caused Jumei to file a Schedule 14D-9 Solicitation/Recommendation Statement with the U.S. Securities and Exchange Commission on the same day. The tender offer expired on April 8, 2020, and Super ROI and Purchaser completed the acquisition on April 14, 2020.
The Complaint alleges violations of Section 14(e) and 20(a) of the Exchange Act based on alleged material misrepresentations and omissions in the Schedule 14D-9.