NEW YORK, Oct. 11, 2017 (GLOBE NEWSWIRE) -- Wolf Popper LLP has filed a class action lawsuit against Westar Energy, Inc. (NYSE:WR), members of its Board, Great Plains Energy Incorporated (NYSE:GXP) and other entities, in the U.S. District Court for the District of Kansas (5:17-cv-04086), on behalf of current public stockholders of Westar, seeking to enjoin the consummation of two related proposed transactions, or, in the event they are consummated, to recover damages resulting from defendants’ wrongdoing. This action alleges claims for violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934.
If you are a member of the Class, you may file a motion no later than December 11, 2017 to be appointed lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Class members are urged to contact Wolf Popper to discuss their rights.
The action stems from two related proposed transactions announced on July 10, 2017, pursuant to which Westar and Great Plains will be combined in a “merger of equals” under a new holding company named Monarch Energy Holding, Inc. In the first transaction, Westar stockholders will receive one share of Monarch common stock in exchange for each of their common shares of Westar. In the other transaction, Great Plains stockholders will receive 0.5981 shares of Monarch common stock in exchange for each of their common shares of Great Plains.
On September 14, 2017, with respect to the proposed transactions, defendants filed a Registration Statement on a Form S-4 which contained materially false and/or misleading information concerning, among other things, the analyses performed by the respective financial advisors of Westar and Great Plains, in support of their fairness opinions, including certain of the projections relied upon in performing these analyses.
Wolf Popper has successfully recovered billions of dollars for defrauded investors. Twelve Wolf Popper attorneys were named Super Lawyers or Rising Stars in the 2017 Super Lawyers New York City Metro Edition, including Wolf Popper partner Carl Stine, who was included in the Super Lawyers Top 100 List for the New York City Metro area. View Wolf Popper attorney biographies at www.wolfpopper.com.
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For more information, please contact:
Carl L. Stine, Esq.
Tel.: 877.370.7703
Fax: 877.370.7704
Email: cstine@wolfpopper.com
website: www.wolfpopper.com