Home / Business / NYSE:CHMT Investor Alert: Lawsuit in effort to Halt the Buyout of Chemtura Corp

NYSE:CHMT Investor Alert: Lawsuit in effort to Halt the Buyout of Chemtura Corp

An investor in NYSE:CHMT shares filed a lawsuit in against the acquisition of Chemtura Corp. by LANXESS AG for $33.50 per share.

On September 25, 2016, Chemtura Corp announced that it has entered into an agreement pursuant to which LANXESS AG will acquire Chemtura Corp in a transaction valued at approximately $2.5 billion.

Investors who purchased shares of Chemtura Corp (NYSE:CHMT) and currently hold any of those NYSE:CHMT shares have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CHMT stockholders by agreeing to sell Chemtura Corp. too cheaply via an unfair process to LANXESS AG.

Under the terms of the agreement, Chemtura Corp (NYSE:CHMT) shareholders will receive $33.50 per share in cash for each outstanding share of common stock held.

However, plaintiff claims that the proposed consideration NYSE:CHMT shareholders will receive is grossly inadequate and undervalues Chemtura Corp. Indeed, at least one analyst has set the high target price for NYSE:CHMT shares at $35.00 per share. In addition, the plaintiff alleges that the process is also unfair NYSE:CHMT stockholders.

On January 9, 2016, NYSE:CHMT shares closed at $33.15 per share.

Those who are current investors in NYSE:CHMT 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
[email protected]