Lawsuit Overview
An investor, who currently holds shares of The KeyW Holding Corporation (NASDAQ: KEYW), filed a lawsuit against the takeover of The KeyW Holding Corporation.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: KEYW stockholders by agreeing to sell The KeyW Holding Corporation. cheaply via an unfair process.
On April 22, 2019, Jacobs (NYSE: JEC) announced that they have entered into a merger agreement pursuant to which Jacobs will acquire The KeyW Holding Corporation for $11.25 per share in cash.
However, plaintiff claims that the proposed consideration NASDAQ: KEYW shareholders will receive is grossly inadequate and undervalues KeyW Holding. In addition, the plaintiff alleges that the process is also unfair NASDAQ: KEYW stockholders
The KeyW Holding Corporation reported that its annual Total Revenue rose from $441.58 million in 2017 to $506.84 million in 2018.
Shares of The KeyW Holding Corporation (NASDAQ: KEYW) closed on May 2, 2019 at $11.28 per share.