NEW YORK, NY / ACCESSWIRE / January 13, 2020 / Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for the District of Delaware, Case No. 1:20-cv-00039-UNA, on behalf of public common shareholders of Innophos Holdings, Inc., ("Innophos" or the "Company") (Nasdaq:IPHS)who held Innophos securities as of the record date on November 25, 2019 (the "Class Period"), and have been harmed by Innophos' and its board of directors' (the "Board") alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the sale of the Company to Iris Parent LLC ("Iris").
Under the terms of the sale, each share of Innophos common stock will be converted into the right to receive $32.00 in cash per share of Innophos common stock owned. The complaint alleges that the Merger Consideration is inadequate and that the Definitive Proxy Statement provided shareholders with materially incomplete and misleading information with the Securities and Exchange Commission, in violation of Sections 14(a) and 20(a) of the Exchange Act. In particular, the complaint alleges that the Proxy Statement contained materially incomplete and misleading information concerning: (i) financial projections for Innophos; and (ii) the valuation analyses performed by Innophos' financial advisor Lazard Frères & Co. LLC, in support of their fairness opinion. The special meeting of Innophos stockholders to vote on the Merger is held January 15th, 2020.
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About Monteverde & Associates PC
Monteverde & Associates PC is a national class action securities and consumer litigation law firm that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct. Mr. Monteverde, who leads the legal team at the firm, has been recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019 an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer.
CONTACT:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave, Suite 4405
New York, NY 10118
United States of America
[email protected]
Tel: (212) 971-1341
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SOURCE: Monteverde & Associates PC