Class Action Suit Against Cooper Dismissed

Time: Jul 8th  2015   Copy editor: Tyrefull

A Delaware judge, according to the Findlay Courier, has dismissed a class action lawsuit against Cooper Tire & Rubber Co.

The lawsuit was originally filed in January 2014 on behalf of investors following the failed Apollo Tyres buyout.  The lawsuit alleged Cooper violated the federal securities laws by issuing a series of materially misleading statements and omissions in connection with Apollo’s proposed acquisition of the company. In addition, the complaint alleged that Cooper misrepresented Cooper’s financial condition, financial prospects and the effectiveness of the company’s internal controls.

In March, Cooper sought dismissal of the case claiming it had no merit.

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