A lawsuit was filed for investors in shares of Coty Inc. (NYSE: COTY) in connection with the proposed takeover and NYSE: COTY stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/10/2019 -- An investor, who currently holds shares of Coty Inc. (NYSE: COTY), filed a lawsuit against the takeover of Coty Inc. (NYSE: COTY).
Investors who purchased shares of Coty Inc. (NYSE: COTY) and currently hold any of those NYSE: COTY 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: COTY stockholders by agreeing to sell Coty Inc.. cheaply via an unfair process.
New York, NY based Coty Inc., together with its subsidiaries, manufactures, markets, distributes, and sells beauty products worldwide.
On Feb. 15, 2019, Coty Inc. (the "Company") (NYSE:COTY) confirmed that on February 13, 2019, JAB Holding Company S.à r.l. ("JAB" and, together with the affiliates of JAB (other than the Company), the "JAB Group") commenced its previously announced tender offer, pursuant to which an affiliate of JAB Group would acquire up to 150 million additional shares of the Company's Class A common stock at a price of $11.65 per share in cash.
On May 1, 2019, Coty Inc. (the "Company" or "Coty") (NYSE: COTY) notes the consummation of the tender offer (the "Offer") by Cottage Holdco B.V. ("Offeror"), an affiliate of JAB Holding Company S.à r.l. ("JAB"), to purchase up to 150,000,000 shares of the Company's Class A common stock (the "Shares") at a price of $11.65 per share in cash.
As previously announced, the Offer expired at 5:00 P.M., New York City time, on April 26, 2019 (the "Expiration Date"), and was not further extended. The Company has been informed by Offeror that, pursuant to the Offer, Offeror has accepted for payment 150,000,000 Shares validly tendered and not withdrawn prior to the Expiration Date for aggregate consideration of approximately $1,747.5 million.
However, plaintiff claims that the proposed consideration NYSE: COTY shareholders will receive is grossly inadequate and undervalues Coty Inc. Indeed, At least one analyst has set the high target price for NYSE: COTY shares at $15.00 per share. In addition, the plaintiff alleges that the process is also unfair NYSE: COTY stockholders.
Coty Inc. reported that its Total Revenue rose from $7.65 billion for the 12 months period that ended on June 30, 2017 to $9.39 billion for the 12 months period that ended on June 30, 2018 and that its Net Loss for those respective time periods declined from $422.2 million to $168.8 million,
Shares of Coty Inc. (NYSE: COTY) closed on June 7, 2019 at $13.52 per share.
Those who are current investors in Coty Inc. (NYSE: COTY) 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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