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If you purchased shares of Iron Mountain Inc (NYSE:IRM) and currently hold any of those NYSE:IRM shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
October 07, 2015 (Shareholders Foundation) - An investors in shares of Iron Mountain Inc (NYSE:IRM) filed a lawsuit in effort to halt the proposed merger of Iron Mountain Inc with Recall Holdings Ltd.
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 7, 2015 at $31.83 per share.