NEW YORK, Feb. 8, 2006 (PRIMEZONE) -- Notice is hereby given that Bull & Lifshitz, LLP has filed a securities class action in the Circuit Court of Baltimore City, Maryland, on behalf of owners of the common stock of Lafarge North America Inc., ("Lafarge NA" or the "Company") (NYSE:LAF).
The Complaint alleges that Lafarge S.A. allegedly owns securities representing approximately 52% of Lafarge NA's outstanding equity securities. Lafarge S.A. intends to make an offer to purchase all outstanding shares of common stock of Lafarge NA not owned by Lafarge S.A. or its affiliates, at a price of $75.00 per share.
The Complaint alleges that the price of $75.00 per share offered to the class members is unconscionable, unfair and grossly inadequate consideration and has been the object of manipulation because, among other things: (a) the intrinsic value of the stock of Lafarge NA is materially in excess of $75.00 per share, giving due consideration to the possibilities of growth and profitability of Lafarge NA in light of its business, earnings and earnings power, present and future; (b) the $75.00 per share price is inadequate and offers an inadequate premium to the public stockholders of Lafarge NA; and (c) the $75.00 per share price is not the result of arm's length negotiations but was fixed arbitrarily by Lafarge S.A. to "cap" the market price of Lafarge NA stock, as part of a plan for defendants to obtain complete ownership of Lafarge NA assets and business at the lowest possible price.
For an information package (http://www.nyclasslaw.com/infopackage.html), or if you wish to discuss this action, or have any questions concerning this notice of your rights or interests with respect to this matter, please contact Joshua M. Lifshitz, Esq., Bull & Lifshitz, LLP via telephone at (212) 213-6222, via fax at (212) 213-9405 or by email at counsel@nyclasslaw.com.
More information on this and other class actions can be found on the Class Action Newsline at http://www.primezone.com/ca.