Recent Securities Litigations
Kemet Corporation (NYSE: KEM)
According to the Complaint, Kemet Corporation is a leading global supplier of high-end electronic components with a global footprint that includes twenty-three manufacturing facilities and approximately 14,000 employees located in twenty-two countries in the Americas, Asia, and Europe.
This action stems from a proposed transaction announced on November 11, 2019, pursuant to which Kemet Corporation will be acquired by Yageo Corporation.
On November 11, 2019, Kemet’s Board of Directors caused the Company to enter into an agreement and plan of merger with Yageo. Pursuant to the terms of the Merger Agreement, Kemet’s stockholders will receive $27.20 in cash for each share of Kemet common stock they own.
On December 26, 2019, Defendants filed a proxy statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.