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ROG.US
id: 432
On November 2, 2022, Rogers Corporation (ROG) disclosed the termination of its merger agreement with DuPont because of the absence of regulatory approval by the State Administration for Market Regulation of China (SAMR).
In connection with the termination of the merger agreement, Rogers has received a regulatory termination fee of $162.5 million from DuPont.
On this news, ROG shares dropped over 44%, losing almost $2 billion of its market capitalization.
Before this announcement, the DuPont/Rogers $ 5.2 billion deal seemed to be going smoothly. As such Investors and Shareholders of both Companies have grounds to suspect that the regulator in China acted with negligence or conducted malpractice.
Case Status
Attorney Investigation
Alleged Offence
Mismanagement,
Fraud,
Malpractice,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Government Authority
Security Type
Stocks
Trade Direction
Long
Shock Event Date
02 November 2022