Tripp Levy PLLC Announces That a Shareholder Complaint Has Been Filed in Connection with the Buyout of Smurfit-Stone
07 Février 2011 - 8:01PM
Business Wire
Tripp Levy PLLC, a leading national securities law firm,
announces that a lawsuit has been filed on behalf of shareholders
of Smurfit-Stone Container Corporation (“Smurfit-Stone” or the
“Company”) (NYSE: SSCC) in connection with the proposed sale of the
Company to RockTenn Co. (NYSE: RKT). Under the terms of the
transaction, Smurfit-Stone shareholders will receive 0.30605 shares
of RockTenn common stock and $17.50 in cash, for an aggregate value
of $35 per Smurfit-Stone common stock.
The lawsuit alleges, among other things, that the consideration
to be paid to Smurfit-Stone shareholders is grossly unfair,
inadequate, and substantially below the fair or inherent value of
Smurfit-Stone. Indeed, shareholders representing approx. 9% of the
Company’s shares have announced their displeasure with the deal and
intent to vote against the proposed merger. The investigation
further concerns whether the directors of Smurfit-Stone may not be
acting in the Company’s shareholders' best interests in connection
with the proposed transaction.
If you own Smurfit-Stone common stock and you wish to discuss
this matter with us, or have any questions concerning your rights
and interests with regard to this matter, please contact:
Tripp Levy
Tripp Levy PLLC
125 East 82nd Street 9th Floor New York, New York Toll Free:
877-772-3975
Email:
contact@tripplevy.com
Tripp Levy PLLC is a national law firm that specializes in
mergers & acquisitions, takeover litigation, shareholder
rights, and corporate governance matters in state and federal
courts throughout the United States.
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