SAN DIEGO, CA / ACCESSWIRE / June 24, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for investors who formerly held Layne Christensen Company (NASDAQ: LAYN) shares.
Investors, who held shares of Layne Christensen Company (NASDAQ: LAYN) and received Granite Construction Incorporated (NYSE: GVA) shares as a result of the takeover, might have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
On February 14, 2018, Granite Construction Incorporated (NYSE: GVA) and Layne Christensen Company (NASDAQ: LAYN) announced that they have entered into an agreement whereby Granite will acquire all of the outstanding shares of Layne in a stock-for-stock transaction valued at $565 million, including the assumption of net debt. Under the terms of the agreement, Layne Christensen Company (NASDAQ: LAYN) shareholders received a fixed exchange ratio of 0.270 Granite shares for each share of Layne common stock they own, or a value of $17.00 per Layne Christensen Company (NASDAQ: LAYN) share.
In April 2018, a lawsuit was filed in connection with the takeover of Layne Christensen Company by Granite Construction Incorporated. The plaintiff alleged that the Registration Statement filed with the SEC in connection with the takeover omitted material information with respect to the Proposed Transaction, which rendered the Registration Statement false and misleading. In June 2019, the case was voluntarily dismissed.
Those who held shares of Layne Christensen Company (NASDAQ: LAYN) and received Granite Construction Incorporated (NYSE: GVA) shares as a result of the takeover might have still certain options and should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.