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Cooper the target of securities class action lawsuit

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A securities class action lawsuit has been filed against Cooper Tire & Rubber and certain of the company’s senior executives by a number of investors. The lawsuit was filed in the US District Court for the District of Delaware. The complaint alleges that Cooper violated the federal securities laws by issuing a series of materially misleading statements and omissions in connection with the proposed acquisition of the company by Apollo announced on 12 June, 2013. In addition, the complaint alleges that Cooper misrepresented Cooper’s financial condition, financial prospects, and the effectiveness of the Company’s internal controls.

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  1. No ‘buyer’s remorse’ – court rules Apollo not in breach of agreement
  2. USW deal over Cooper plants reached, says source
  3. Court dismisses Cooper appeal
  4. Cooper not yet ready to resume financial reporting
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Cooper takes suitor Apollo to court

Cooper Tire & Rubber Company has filed a legal complaint against the company that has agreed to buy it in a friendly takeover, Apollo Tyres. Cooper filed a complaint on 4 October in Delaware Chancery Court asking that “subsidiaries of Apollo Tyres Ltd be required to expeditiously close the pending merger between the two tyre companies in accordance with the terms of the definitive merger agreement”.

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  1. Kanwar: ‘We see significant growth potential’ at each tyre plant
  2. Swiss Finance acquires 1.34% stake in Apollo
  3. Separate Cooper contracts required before Apollo deal proceeds
  4. Apollo Cooper takeover on the rocks
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Airgo-Lift Prevents Manual Handling

Hofmann Megaplan has introduced the new ‘Airgo-Lift’ a wheel lifter for assisting tyre technicians with heavy wheel assemblies.

Operated by air the machine fits under the shaft of a balancer and can raise wheels up to 70kg in weight. It can also move the wheel horizontally over the shaft to allow easy location of studs when flange plate mounting.

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  1. Changers, Balancers and More
  2. Maywood Releases New 2 Post Lift
  3. Lotus Choose Hofmann Megaplan
  4. Well Handled
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China Tire Holdings Seeks $3.5 bn Damages From Goodyear

China Tire Holdings, listed on the NY Stock Exchange since 1993, has brought a law suit against Goodyear in Ohio. Amongst other things the Chinese company accuses Goodyear of violating the RICO statutes and is seeking US$ 3.5 bn in actual and punitive damages from the American rubber giant.

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  1. Michael Wessel Joins Goodyear Board
  2. Kumho Petrochemical to Increase Synthetic Rubber Production
  3. Judge Rules Wyko/Goodyear Case Photos Must Be Viewed in Camera
  4. Goodyear To Invest $200 Million in Danville Expansion
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Now Continental General Tire Responsible For 18 Deaths?

Tyre failures of the product General “52 S” for the Ford Bronco are responsible for the deaths of 18 people, say lawyers in the USA who have filed a law suit against the Group. The lawyers also claim that Continental has deliberately covered up safety faults. Continental rejects all accusations and claims that it has cooperated fully with the NHTSA at all times.

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  1. Continental’s Annual General Meeting
  2. Firestone Settles Law Suit In Texas
  3. Continental Wins Chrysler Contract
  4. USW Files Complaint With State Department Against Continental
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Law Suit Has Little Chance of Success Say DaimlerChrysler

DaimlerChrysler have said that they regard the nine billion Dollar law suit by its third largest shareholder, the Tracinda Investment Group, as completely unfounded. The lawsuit alleges that DaimlerChrysler have deliberately deceived the US Stock Exchange Control Institution as well as the shareholders. Analysts predict that this law suit has little chance of success. Although Deutsche Bank, the main shareholder of DaimlerChrysler, have demonstratively supported the management, the car manufacturer’s share price went down significantly to 45.85 Euros.

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  1. Continental: Problems With Nafta
  2. Bridgestone Lowers Profit Forecast
  3. BorgWarner Publishes Tender Offer to Beru Shareholders
  4. Michelin Q1 Sales Praised
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