A lawsuit was filed for investors in shares of Avon Products, Inc. (NYSE: AVP) in connection with the proposed takeover and Avon Products, Inc. (NYSE: AVP stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/07/2019 -- The Shareholders Foundation announced that an investor, who currently holds shares of Avon Products, Inc. (NYSE: AVP), filed a lawsuit against the takeover of Avon Products, Inc. (NYSE: AVP).
Investors who purchased shares of Avon Products, Inc. (NYSE: AVP) and currently hold any of those NYSE: AVP 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 NYSE: AVP stockholders by agreeing to sell Avon Products, Inc. cheaply via an unfair process.
On May 22, 2019, Natura &Co (B3: NATU3) announced that it was acquiring Avon Products, Inc. (NYSE: AVP) in an all-share transaction, creating the fourth-largest pure-play beauty group in the world and a major force for good in the industry. In connection with the Sale, holders of Avon's stock will receive (1) 0.300 American Depository Shares of Natura Holding against the deposit of two shares of Natura Holding shares or (2) 0.600 Natura Holding shares for each share of Avon stock they hold. 8 This exchange ratio amounted to $4.40 per share for Avon's stock based on the price of Avon's stock on May 21, 2019, the last trading day before the announcement of the Sale Agreement.
However, plaintiff claims that the proposed consideration NYSE: AVP shareholders will receive is grossly inadequate and undervalues Avon Products, Inc. In addition, the plaintiff alleges that the process is also unfair NYSE: AVP stockholders. The plaintiff claims that Cerberus controls Avon Products, Inc, since its owns over 16% over the voting stock and in addition controls the board of directors of Avon Products, Inc.
Those who are current investors in Avon Products, Inc. (NYSE: AVP) shares have certain options and should contact the Shareholders Foundation.
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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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