Le Lézard
Classified in: Business
Subject: ATY

Robbins Arroyo LLP: A Class Action Lawsuit Was Filed Against OM Group Inc. (OMG) in Connection with its Proposed Sale to Affiliates of Apollo Global Management LLC (APO)

SAN DIEGO and CLEVELAND, July 1, 2015 /PRNewswire/ -- Shareholder rights attorneys at Robbins Arroyo LLP are investigating the recent acquisition of OM Group Inc. (NYSE: OMG) by certain funds managed by affiliates of Apollo Global Management LLC (NYSE: APO). Under the terms of the June 1, 2015, OM Group shareholders will receive $34.00 in cash for each share of OM Group common stock.

Robbins Arroyo LLP.

View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/noteworthy-cases/om-group-inc

Is the Proposed Acquisition Fair for OM Group Shareholders?

On June 17, 2015, an OM Group investor filed a class action lawsuit in Delaware Chancery Court challenging the company's proposed acquisition.  The complaint alleges that the deal was made through an unfair negotiation process and that it improperly buys shareholders out of a company that is headed for success.  Additionally, the complaint alleges that OM Group and its directors breached their fiduciary duties of loyalty, good faith, due care, and full disclosure to the class by not considering other buyers before agreeing to the buyout. 

Apollo is attempting to acquire OM Group for the $34.00 merger consideration that is significantly below a $49.00 target price set by an APB Financial Group analyst in March 2015.  Financial analysts at BB&T Capital Markets and Northcoast Research have also appraised OM Group stock above the merger consideration, with target prices of $37.00 and $35.00, respectively. Moreover, the merger consideration's 17.9% premium, based on OM Group's closing price on May 1, 2015, is well below the average one month premium of 27% for comparable transactions within the past five years.  The class action suit is thus seeking class certification and is requesting the court to block the deal.

OM Group shareholders interested in information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, ddonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law.  The law firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.  

Attorney Advertising. Past results do not guarantee a similar outcome.  

Darnell R. Donahue
Robbins Arroyo LLP
600 B Street, Suite 1900
San Diego, CA 92101
(619) 525-3990 or Toll Free (800) 350-6003

Logo - http://photos.prnewswire.com/prnh/20130103/MM36754LOGO


SOURCE Robbins Arroyo LLP

These press releases may also interest you

at 15:27
comScore today announced the official worldwide weekend box office estimates for the weekend of March 18, 2018, as compiled by the company's theatrical measurement services. As the trusted industry partner for real-time...

at 14:55
Metafrax, a company controlled by a businessperson Seyfeddin Roustamov, begins constructing a new chemical plant of 58 billion rubles for producing ammonia, carbamide and melamine. The ceremony of laying the first cube of concrete to the plant base...

at 14:29
The three keys to a growing area ? housing, job and population increases are on the rise in Dallas and its surrounding suburbs; continuing to make it one of the fastest growing cities in 2018. Leading the nation in...

at 14:03
BNP Paribas has extended its title sponsorship of the BNP Paribas Open from 2019 through 2023. BNP Paribas began its title sponsorship of the tournament in 2009, and over the course of this agreement, the bank will become the longest running title...

at 11:51
Lionsgate /Roadside Attractions' release of the Erwin Brothers faith-based family drama I Can Only Imagine shattered pre-weekend tracking expectations to become #3 at the box-office this weekend and the #1 faith-based movie of 2018. The film took in...

at 10:00
Lowestcarinsuranceratesonline.com (http://www.lowestcarinsuranceratesonline.com/) offers free car insurance quotes for finding the right policy in spring. Clients can find great auto insurance offers at anytime during the year, but this spring...

News published on 1 july 2015 at 19:39 and distributed by: