OFI Asset Management v. Cooper Tire & Rubber
Court of Appeals for the Third Circuit
1Opinion of the Court
OPINION OF THE COURT
JORDAN, Circuit Judge.
This suit is what remains from a failed merger between Cooper Tire & Rubber Company (“Cooper”) and Apollo Tyres Ltd. (“Apollo”). OFI Asset Management and Timber Hill LLC — purporting to act for themselves and other similarly situated investors (collectively, “OFI”) 1 — -filed this securities class action in the United States District Court for the District of Delaware against Cooper and two of its officers. OFI claims that, during the course of merger negotiations between Cooper and Apollo, the defendants made material misrepresentations in statements…
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