A lawsuit was filed for investors in shares of A Schulman Inc (NASDAQ:SHLM) in connection with the proposed takeover and NASDAQ:SHLM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/11/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of A Schulman Inc (NASDAQ:SHLM), filed a lawsuit against the acquisition of A Schulman Inc by LyondellBasell.
Investors who purchased shares of A Schulman Inc (NASDAQ:SHLM) and currently hold any of those NASDAQ:SHLM shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:SHLM stockholders by agreeing to sell A Schulman Inc. cheaply via an unfair process.
Fairlawn, OH based A. Schulman, Inc. is an international supplier of plastic formulations, resins and services, and provides solutions to its customers' requirements through custom-formulated products. On February 15, 2018, LyondellBasell (NYSE: LYB) and A. Schulman, Inc.(NASDAQ: SHLM) announced that they have entered into an agreement under which LyondellBasell will acquire A. Schulman for a total consideration of $2.25 billion. Under the terms of the agreement, LyondellBasell will purchase 100 percent of A. Schulman common stock for $42 per share in cash and one contingent value right per share and assume outstanding debt and certain other obligations.
However, plaintiff claims that the proposed consideration NASDAQ:SHLM shareholders will receive is grossly inadequate and undervalues A. Schulman, Inc. In addition, the plaintiff alleges that the process is also unfair NASDAQ:SHLM stockholders. Indeed
Those who are current investors in A Schulman Inc (NASDAQ:SHLM) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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