Law Offices of Howard G. Smith Announces a Shareholder Class Action Lawsuit Has Been Filed Against Cooper Tire & Rubber Company
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit 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 the “Company”) (NYSE:CTB) between June 12, 2013 and November 8, 2013, inclusive (the “Class Period”).
The lawsuit alleges that the Company and certain of its executive officers misrepresented or failed to disclose significant risks associated with the proposed acquisition of the Company by Apollo Tyres Ltd. Specifically, the Complaint alleges that the defendants misrepresented or failed to disclose that the Company lacked control over its most important subsidiary -- Cooper Chengshan Tire Company, Ltd. ("CCT") -- and that Cooper Tire's joint venture partner, Chengshan Group, which had a 35% interest in CCT, opposed the proposed acquisition and had sought to acquire Cooper Tire for itself. The Complaint further alleges that Cooper Tire misrepresented its financial condition, financial prospects and the effectiveness of its internal controls.
If you purchased Cooper Tire common stock between June 12, 2013 and November 8, 2013, you have until March 18, 2014, to move the Court to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.