A lawsuit was filed by investor in shares of Dresser-Rand Group Inc. (NYSE:DRC) in effort to stop the proposed takeover and NYSE:DRC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/06/2014 -- The Shareholders Foundation announces that an investor, who currently holds shares of Dresser-Rand Group Inc. (NYSE:DRC), filed a lawsuit in effort to halt the proposed takeover of Dresser-Rand Group Inc. by Siemens.
Investors who purchased shares of Dresser-Rand Group Inc. (NYSE:DRC) and currently hold any of those NYSE:DRC shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:DRC stockholders by agreeing to sell Dresser-Rand Group Inc. too cheaply via an unfair process to Siemens.
On September 21, 2014, Dresser-Rand Group Inc. (NYSE: DRC) announced that it has entered into a merger agreement with Siemens under which Siemens will acquire all of the outstanding shares of Dresser-Rand common stock for $83.00 per share in cash.
However, the plaintiff claims that the offer is too low and undervalues Dresser-Rand Group Inc. Indeed, at least one analyst has set the high target price for NYSE:DRC at $100.00 per share. In addition, Dresser-Rand Group Inc. reported that its annual Total Revenue rose from over $1.95 billion in 2010 to over $3.03 billion in 2013. Shares of Dresser-Rand Group Inc. (NYSE:DRC) grew from $29.58 per share in January 2010 to as high as $75.00 per share on September 17, 2014. Furthermore, the plaintiff alleges that the process is also unfair to NYSE:DRC stockholders.
On October 2, 2014, NYSE:DRC shares closed at $82.02 per share.
Those who are current investors in Dresser-Rand Group Inc. (NYSE:DRC) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego