NEW YORK, Sept. 7, 2016 /PRNewswire/ -- Notice is hereby
given that Faruqi & Faruqi, LLP has filed a class action
lawsuit in the United States District Court for the Eastern
District of Wisconsin, case no.
2:16-cv-01153, on behalf of shareholders of Joy Global, Inc. ("Joy"
or the "Company") (NYSE: JOY) who held Joy securities on the record
date, September 1, 2016, and have
been harmed by Joy's and its board of directors' (the "Board")
alleged violations of Sections 14(a) and 20(a) of the Securities
Exchange Act of 1934 (the "Exchange Act") and Securities and
Exchange Commission ("SEC") Rule 14a-9, in connection with
the proposed sale (the "Proposed Transaction") of the Company to
Komatsu America Corp. ("Komatsu").
On July 21, 2016, the Company
announced it had entered into an Agreement and Plan of Merger
("Merger Agreement") pursuant to which Joy will merge with Pine
Solutions, Inc., a wholly owned subsidiary of Komatsu, and will
thereafter continue as the surviving corporation. The shareholder
vote on the Proposed Transaction is expected to occur October 19, 2016.
If you wish to obtain information concerning this action or
view a copy of the complaint, you can do so by clicking here:
www.faruqilaw.com/JOYnotice.
Pursuant to the terms of the Merger Agreement, which was
unanimously approved by the Board, Joy shareholders will receive
$28.30 in cash per share for each
share of Joy they own. The complaint claims that this offer is
inadequate in light of the Company's recent financial performance
and strong growth prospects, and that the Schedule 14A Definitive
Proxy ("Proxy") that was filed with the SEC soliciting
shareholder votes provides materially incomplete and misleading
information about the Company's financials and the fairness of the
Proposed Transaction, in violation of Sections 14(a) and 20(a) of
the Exchange Act.
Take Action
Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm
with extensive experience in prosecuting class actions, and
significant expertise in actions involving corporate fraud. Faruqi
& Faruqi, LLP, was founded in 1995 and the firm maintains its
principal office in New York City,
with offices in Delaware,
California, and Pennsylvania.
If you wish to serve as lead plaintiff, you must move the Court
no later than 60 days from today. Any member of the putative
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. If you wish to discuss this action, or have any
questions concerning this notice or your rights or interests,
please contact:
Nadeem Faruqi, Esq.
FARUQI & FARUQI, LLP
685 3rd Avenue, 26th Floor
New York, NY 10017
Telephone: (877) 247-4292 or (212) 983-9330
E-mail: nfaruqi@faruqilaw.com
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SOURCE Faruqi & Faruqi, LLP