They actually have a really good case. The company got bought out at 12.76x EBIT but the average in the industry recently is 23.85x and Book value is 1.54x but average is 2.74x. Thus, they got bought out several dollars below what they should have been. I am contacting the law firm and suggest you do as well.
just learned from law firm that management put in a $75 million penalty fee...so that if another company wants to make a higher offer they first have to pay this...this seems unfair...why would management try to prevent us from getting a higher offer unless there was something in it for them? law firm also sent me the slides and other materials...here is number in case anyone else wants to contact them 1-877-772-3975
i just got a copy of the merger agreement and management put in a penalty fee of $232 million! Basically, if another company wants to make a higher offer it has to pay this penalty fee first....i'm curious if management is just doing this to protect whatever sweetheart deal they negotiated for themselves
I decided to join the lawsuit...you have nothing to lose...its all upside...at the very least you get the current buyout offer but by joining you get all the upside and no downside...they provide you with information regarding the buyout, they help you with understanding the process, etc. They can answer a lot of your questions....here is the number of the law firm i joined and they can send you the complaint 1-877-772-3975
i contacted the law firm and they sent me the merger agreement and management put in a penalty fee of $18 million that another company must pay if it wants to make a higher price...then it says that management got millions in incentive compensation and other benefits...here is number of law firm in case anyone else wants to get a copy or join 1-877-772-3975
not sure if anyone else picked up on this but all the management and directors of SHFL are voting in favor of the deal and they put in a huge penalty fee of around 50 of million that another company must pay if it wants to pay a higher price. That's crazy. Why would they prevent shareholders from getting more money. they obviously did this to protect the sweetheart deal they gave themselves in selling the company
not sure if anyone else picked up on this but all the management and directors of CSE are voting in favor of the deal and they put in a huge penalty fee tens of millions that another company must pay if it wants to pay a higher price. That's crazy. Why would they prevent shareholders from getting more money. they obviously did this to protect the sweetheart deal they gave themselves in selling the company.
in the merger agreement the management of FFEX put in a penalty provision that says that if another company wants to make a higher offer it must first pay a penalty in the millions of dollars. How is this fair? Isn't management only doing this to protect the sweetheart deal they cut for themselves? Why would they do anything to prevent shareholders from getting a higher price?
Here is a newspaper article:
"In the wake of the news that The Kroger Co. will acquire Harris Teeter for $2.5 billion in a transaction which Kroger will purchase all outstanding shares of Harris Teeter for $49.38 per share in cash, a number of legal firms from around the country have initiated investigations probing whether the pending merger is in the best interest of the Matthews, N.C.-based regional retailer’s shareholders."
source: Progressive Grocer
For more information on this matter, contact 1-877-772-3975
a lawsuit was filed on behalf of shareholders who feel the price of $20 per share to acquire their shares of Keynote is too low. The lawsuit seeks to get more money for those shareholders. here is the contact information for the law firm for more information 1-877-772-3975
in the merger agreement it says that if another buyer wants to make a hiigher offer then they have to pay a penalty fee of around $10 million. How is this fair? Shouldn't management be doing everything possible to get higher bids? By putting in this penalty, it will only prevent other bidders from coming forward. Something smells fishy
Shareholder Class Action
WiLMINGTON, Del. - Directors are selling Cooper Tire & Rubber Co. too cheaply through an unfair process to Apollo Tyres, for $35 a share or $2.5 billion, shareholders claim in Chancery Court in Delaware.
For more information about this lawsuit and how it affects your rights as a sharehodler and to get a copy of the complaint, please contact 1-877-772-3975
I completely agree. They are timing this to coincide with the stock being down based on the accounting issues. They obviously know the true value of this company (from being on the board), so they would not buy this company unless they knew it was worth more than what they are paying. Count me in this lawsuit!
while I normally agree that lawyers are #$%$, i don't think that's the case here. I spoke to one and they said they only get paid if they get us a benefit and that money only comes from the buyer of the company....so they have every incentive to get us more and it doesn't cost us a penny. Really we have no downside cause the least we will get is the merger price but if the lawyers are successful we get more and it doesn't cost us anything, so there really isn't a downside. Also, they said we can be eligible for a special dividend....so, it made sense to me to join...here is number of law firm i called 1-877-772-3975