This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Cooper Tire & Rubber Company Investors: Cooper Tire Misled Investors According To A Newly Filed Class Action

SAN DIEGO and FINDAY, Ohio, Feb. 4, 2014 /PRNewswire/ -- Shareholder rights law firm Robbins Arroyo LLP announces that an investor of Cooper Tire & Rubber Company (NYSE: CTB) has filed a federal securities fraud class action complaint in the U.S. District Court for the District of Delaware.  The complaint alleges that the company and certain of its officers violated the Securities and Exchange Act of 1934 harming those who purchased Cooper common stock between June 12, 2013 and November 8, 2013 (the "Class Period"), and Cooper stockholders of record as of the close of business on August 30, 2013 (the "Record Date").  


Cooper Is Accused of Failing to Disclose Risks Associated with Failed Apollo Merger

According to the complaint, Cooper shares fell $5.55, to close at $25.72 on October 7, 2013, on news that the Cooper's previously announced plan to complete a merger with Apollo Tyres Ltd. at $35 per share was in jeopardy causing Cooper to file a lawsuit seeking to force Apollo to close on the merger.  On November 8, 2013, the Court refused to require Apollo to closer the merger and Cooper shares fell $3.08 to close at $23.82 on November 8, 2013.    

Specifically, the complaint alleges that Cooper executives concealed the fact that the planned Apollo merger was opposed by Chengshan Group, Cooper's joint venture partner in its subsidiary, Cooper Chengshan Tire Company, Ltd. ("CCT"). Chengshan previously sought to acquire Cooper for itself and its opposition to the deal made it highly unlikely that the merger would be consummated according to the terms of the proxy statement filed by Cooper on August 30, 2013.  Further, Cooper allegedly concealed the company's lack of actual control over its CCT subsidiary, which was a critical part of the deal as it provided Apollo with a gateway to the Chinese market.  As a result, Cooper issued statements throughout the Class Period that were materially false and misleading and caused investors to suffer financial losses.

Cooper Shareholders Are Encouraged to Contact Shareholder Rights Law Firm Robbins Arroyo

If you invested in Cooper and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003,, or via the information form on the firm's shareholder rights blog:

Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law.  The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. 

Attorney Advertising. Past results do not guarantee a similar outcome.  

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs