A lawsuit was filed for investors in shares of Advanced Disposal Services, Inc. (NYSE: ADSW) in connection with the proposed takeover and Advanced Disposal Services, Inc. (NYSE: ADSW stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/24/2019 -- An investor, who currently holds shares of Advanced Disposal Services, Inc. (NYSE: ADSW), filed a lawsuit against the takeover of Advanced Disposal Services, Inc.
Investors who purchased shares of Advanced Disposal Services, Inc. (NYSE: ADSW) and currently hold any of those Advanced Disposal Services, Inc. (NYSE: ADSW shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: ADSW stockholders by agreeing to sell Advanced Disposal Services, Inc. cheaply via an unfair process.
Ponte Vedra, FL based Advanced Disposal Services, Inc. provides non-hazardous solid waste collection, transfer, recycling, and disposal services. On April 15, 2019, Waste Management, Inc. (NYSE: WM) and Advanced Disposal Services, Inc. (NYSE: ADSW) announced that they have entered into an agreement under which a subsidiary of Waste Management will acquire all outstanding shares of Advanced Disposal for $33.15 per share in cash, representing a total enterprise value of $4.9 billion when including approximately $1.9 billion of Advanced Disposal's net debt.
However, plaintiff claims that the proposed consideration NYSE: ADSW shareholders will receive is grossly inadequate and undervalues Advanced Disposal Services, Inc. Indeed, at least one analyst has set the high target price for NYSE: ADSW shares at $35.00 per share.
In addition, the plaintiff alleges that the process is also unfair NYSE: ADSW stockholders. Indeed, in connection with the takeover agreement, Canada Pension Plan Investment Board, which owns approximately 19% of Advanced Disposal's outstanding shares, has, under the terms of a voting agreement, already agreed to vote its shares in favor of the transaction.
Shares of Advanced Disposal Services, Inc. (NYSE: ADSW) closed on May 23, 2019 at $32.18 per share.
Those who are current investors in Advanced Disposal Services, Inc. (NYSE: ADSW) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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