San Diego, CA -- (SBWire) -- 10/22/2015 --The Shareholders Foundation announces that an investor in shares of Iron Mountain Inc (NYSE:IRM) filed a lawsuit against the proposed merger of Iron Mountain Inc with Recall Holdings Ltd.
Investors who purchased shares of Iron Mountain Inc (NYSE:IRM) and currently hold any of those NYSE:IRM shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The plaintiff alleges that Iron Mountain and certain of its directors failed to disclose important information related to its planned stock-swap agreement with Recall Holdings Ltd in a proxy statement issued ahead of a shareholder vote
On April 28, 2015 Iron Mountain (NYSE:IRM) announced that it has reached an agreement in principle with Recall Holdings Limited to acquire Recall by way of a recommended court approved Scheme of Arrangement for 0.1722 of an Iron Mountain common share for each Recall share.
However, the plaintiff claims that defendants have filed a definitive proxy statement that allegedly fails to disclose key material facts, including projections of levered cash flows and material changes in projected synergies to be realized from the proposed transaction and that by failing to disclose these material facts, the director defendants have violated their duty of candor.
Iron Mountain Inc reported that its annual Total Revenue rose from over $3.02 billion in 2013 to over $3.11 billion in 2014 and that its respective Net Income grew from $95.05 million to $317.81 million.
Shares of Iron Mountain Inc closed on October 21, 2015 at $31.34 per share.
Those who are current investors in Iron Mountain Inc 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
Iron Mountain Inc (NYSE:IRM) Shareholder Alert: Lawsuit Against Merger with Recall Holdings Ltd
A lawsuit was filed by an investor of Iron Mountain Inc (NYSE:IRM) in connection with the proposed merger and NYSE:IRM stockholders should contact the Shareholders Foundation.