A lawsuit was filed for investors in shares of Orbital ATK Inc (NYSE:OA) in connection with the proposed takeover and NYSE:OA stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/24/2017 -- The Shareholders Foundation announces that an investor in NYSE:OA shares filed a lawsuit in against the acquisition of Orbital ATK Inc. by Northrop Grumman Corporation for $134.50 per share.
Investors who purchased shares of Orbital ATK Inc (NYSE:OA) should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:OA stockholders by agreeing to sell Orbital ATK Inc cheaply via an unfair process to Northrop Grumman Corporation.
On Sept. 18, 2017, Northrop Grumman Corporation (NYSE: NOC) and Orbital ATK, Inc. (NYSE: OA) announced they have entered into an agreement under which Northrop Grumman will acquire Orbital ATK for approximately $7.8 billion in cash, plus the assumption of $1.4 billion in net debt. Under the terms of the proposed transaction Orbital ATK shareholders will receive all-cash consideration of $134.50 per share
However, plaintiff claims that the proposed consideration NYSE:OA shareholders will receive is grossly inadequate and undervalues Orbital ATK Inc. Orbital ATK Inc reported that its Total Revenue rose from over $3.17 billion for the 12 months period that ended on March 31, 2015 to over $4.45 billion for the 12 months period that ended on December 31, 2016 and that its Net Income for those respective time period increased from $77.44 million to $293 million. In addition, the plaintiff alleges that the process is also unfair NYSE:OA stockholders.
Those who are current investors in Orbital ATK Inc (NYSE:OA) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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