Cases
Johnson Controls Inc. (NYSE : JCI)
Merger
Overview
Overview
- Date:
- 8/18/2016
- Company Name:
- Johnson Controls Inc.
- Stock Symbol:
- JCI
- Class Period:
- FROM 1/24/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: District of Eastern Wisconsin
NEW YORK, August 18, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Wisconsin Eastern District Court on behalf of all persons or entities who held Johnson Controls Inc. (NYSE: JCI) securities on January 24, 2016 (the “Class Period”).
The complaint alleges that in pursuing the merger, each of the Defendants have violated, and will continue to violate, applicable law by breaching and/or aiding and abetting the other Defendants’ breaches of their fiduciary duties of due care, disclosure, good faith, loyalty, and fair dealing and by engaging in other wrongful conduct under federal and Wisconsin statutory and common law.
The complaint seeks to compel Defendants to comply with the Internal Revenue Code (“IRC”), to determine and disclose whether JCI or the JCI shareholders are to pay the merger-dependent taxes required by the IRC, and, if the latter, to require JCI to pay damages to those JCI shareholders forced to pay for JCI’s merger, and to disclose Defendants’ scheme to protect themselves from merger-related taxes by diluting JCI shareholders’ equity interest after the merger.
If you held Johnson Controls Inc. securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The complaint alleges that in pursuing the merger, each of the Defendants have violated, and will continue to violate, applicable law by breaching and/or aiding and abetting the other Defendants’ breaches of their fiduciary duties of due care, disclosure, good faith, loyalty, and fair dealing and by engaging in other wrongful conduct under federal and Wisconsin statutory and common law.
The complaint seeks to compel Defendants to comply with the Internal Revenue Code (“IRC”), to determine and disclose whether JCI or the JCI shareholders are to pay the merger-dependent taxes required by the IRC, and, if the latter, to require JCI to pay damages to those JCI shareholders forced to pay for JCI’s merger, and to disclose Defendants’ scheme to protect themselves from merger-related taxes by diluting JCI shareholders’ equity interest after the merger.
If you held Johnson Controls Inc. securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.