A lawsuit was filed for investors in shares of CST Brands Inc (NYSE:CST) in connection with the proposed takeover was announced and NYSE:CST stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/05/2016 -- The Shareholders Foundation announced that an investor in shares of CST Brands Inc filed a lawsuit in effort to halt the proposed takeover of CST Brands Inc. by Couche-Tard Inc.
Investors who purchased shares of CST Brands Inc (NYSE:CST) and currently hold any of those NYSE:CST shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:CST stockholders by agreeing to sell CST Brands Inc. too cheaply via an unfair process to Couche-Tard Inc.
On August 22, 2016, Couche-Tard Inc. (TSX: ATD.A ATD.B), ("Couche-Tard") announces a merger agreement with CST Brands Inc (NYSE:CST) under which Couche-Tard would acquire CST Brands Inc (NYSE:CST) in an all-cash transaction for US $48.53 per share, with a total enterprise value of approximately US $4.4 billion including net debt assumed.
However, plaintiff claims that the proposed consideration NYSE:CST shareholders will receive is grossly inadequate and undervalues CST Brands Inc. In addition, the plaintiff alleges that the process is also unfair to CST Brands Inc stockholder.
Shares of CST Brands Inc (NYSE:CST) closed on October 4, 2016, at $47.96 per share.
Those who are current investors in CST Brands Inc shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego