NEW YORK, July 8, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of OMNOVA Solutions Inc. ("OMNOVA" or the "Company") (OMN) in connection with the proposed acquisition of the Company by Synthomer Plc ("Synthomer"). Under the terms of the agreement, the Company's shareholders will receive $10.15 in cash for each OMNOVA share they own.
If you own OMNOVA shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
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New York, NY 10036
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WeissLaw is investigating whether OMNOVA's Board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, OMNOVA shares have traded for as much as $10.70, or $0.55 above the offer price. Additionally, on that same day, the Company announced its tenth consecutive quarter of year-over-year volume growth in its Specialty Solutions segment. It reported net sales for Specialty Solutions of $142.3 million in the second quarter of 2019, representing an increase of $13.5 million, or 10.5%, year-over-year when compared to the figures reported in the same period of the prior year.
WeissLaw is investigating whether OMNOVA's Board conducted a fair process in agreeing to the proposed acquisition, whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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