An investor in NYSE:ADT shares filed a lawsuit against the acquisition of ADT Corp for $42.00 per share.
Investors who purchased shares of ADT Corp (NYSE:ADT) and currently hold any of those NYSE:ADT shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:ADT stockholders by agreeing to sell ADT Corp too cheaply via an unfair process.
On February 16, 2016, ADT Corp (NYSE:ADT) announced that it has entered into an agreement to be acquired by an affiliate of certain funds managed by affiliates of Apollo Global Management, LLC (NYSE:APO) and co-investors and merged with a subsidiary of Prime Security Services Borrower, LLC, also owned by the Apollo Funds, for $42.00 per share in cash.
However, the plaintiff claims that the proposed consideration NYSE:ADT shareholders will receive is grossly inadequate and undervalues ADT Corp. ADT Corp reported that its Total Revenue rose from over $2.59 billion for the 52 weeks period that ended on September 24, 2010 to over $3.3 billion for the 52 weeks period that ended on September 27, 2013 and that its Net Income for those respective time periods grew from $239 million to $421 million. In addition, the plaintiff alleges that the process is also unfair to NYSE:ADT stockholders.
On March 16, 2016, NYSE:ADT shares closed at $41.15 per share.
Those who are current investors in NYSE:ADT shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com