A lawsuit was filed for investors in shares of Cambium Learning Group, Inc. (NASDAQ: ABCD) in connection with the proposed takeover.
San Diego, CA -- (SBWIRE) -- 12/07/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Cambium Learning Group, Inc. (NASDAQ: ABCD), filed a lawsuit against the takeover of Cambium Learning Group, Inc.
Investors who purchased shares of Cambium Learning Group, Inc. (NASDAQ: ABCD) and currently hold any of those NASDAQ: ABCD shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: ABCD stockholders by agreeing to sell Cambium Learning Group, Inc. cheaply via an unfair process.
On October 15, 2018, Cambium Learning Group, Inc. (Nasdaq: ABCD) announced that it has entered into a merger agreement with certain affiliates of Veritas Capital, a leading private equity investment firm, for the acquisition of the Company. Pursuant to the terms of the merger agreement, the holders of common stock of the Company currently outstanding are entitled to receive $14.50 in cash per share at the closing.
However, plaintiff claims that the proposed consideration NASDAQ: ABCD shareholders will receive is grossly inadequate and undervalues Cambium Learning Group. In addition, the plaintiff alleges that the process is also unfair NASDAQ: ABCD stockholders
Those who are current investors in Cambium Learning Group, Inc. (NASDAQ: ABCD) shares have certain options and should contact the Shareholders Foundation.
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