San Diego, CA -- (SBWIRE) -- 08/31/2016 -- The Shareholders Foundation announced that an investor who currently holds shares of Joy Global Inc. (NYSE:JOY), filed a lawsuit in effort to halt the proposed takeover of Joy Global Inc. by Komatsu Ltd. for $28.30 per share.

Investors who purchased shares of Joy Global Inc. (NYSE:JOY) and currently hold any of those NYSE:JOY shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:JOY stockholders by agreeing to sell Joy Global Inc. too cheaply via an unfair process to Komatsu America Corp., a subsidiary of Komatsu Ltd.

On July 21, 2016, Joy Global Inc. announced that its Board of Directors has approved a merger agreement under which Komatsu America Corp., a subsidiary of Komatsu Ltd. (TYO: 6301), will acquire Joy Global in a transaction valued at approximately $3.7 billion, including Joy Global's outstanding indebtedness. Under the terms of the agreement, Joy Global stockholders will receive $28.30 per share in cash for each outstanding share of common stock held,.

However, plaintiff claims that the proposed consideration NYSE:JOY shareholders will receive is grossly inadequate and undervalues Joy Global Inc. Indeed, shares of Joy Global Inc. (NYSE:JOY) reached in 2014 as high as $64.27 per share. In addition, the plaintiff alleges that the process is also unfair to Joy Global Inc stockholder.

On August 30, 2016, NYSE:JOY shares closed at $27.40 per share.

Those who purchased shares of Joy Global Inc. 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