WILMINGTON, Del., Dec. 07, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of holders of Chemtura Corporation (“Chemtura”) (NYSE:CHMT) common stock in connection with the proposed acquisition of Chemtura by Lanxess Deutschland GmbH (“Lanxess”) announced on September 26, 2016 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against Chemtura, its Board of Directors (the “Board”), and Lanxess, is captioned Scarantino v. Chemtura Corporation, Case No. 2:16-cv-06051-ER.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra, at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail at info@rl-legal.com; or at: http://rigrodskylong.com/investigations/chemtura-corporation-chmt/.
On September 25, 2016, Chemtura entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Lanxess. Pursuant to the Merger Agreement, Lanxess will acquire Chemtura, and Chemtura shareholders will receive $33.50 per share in cash for each share of Chemtura that they own (the “Proposed Transaction”).
The Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, on November 4, 2016, defendants issued materially incomplete disclosures in a Proxy Statement (the “Proxy Statement”) filed with the United States Securities and Exchange Commission. The Proxy Statement, which recommends that Chemtura stockholders vote in favor of the Proposed Transaction, omits material information necessary to enable shareholders to make an informed decision as to how to vote on the Proposed Transaction, including material information with respect to the process and events leading up to the Proposed Transaction and the opinions and analyses of Chemtura’s financial advisor.
Plaintiff seeks injunctive and equitable relief and damages on behalf of holders of Chemtura common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than February 5, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation, and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.