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If you purchased shares of OM Group, Inc. (NYSE:OMG) and currently hold any of those NYSE:OMG 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
June 12, 2015 (Shareholders Foundation) - An investor who currently holds shares of OM Group, Inc. (NYSE:OMG), filed a lawsuit in effort to halt the proposed takeover of OM Group, Inc. by affiliates of Apollo Global Management, LLC (NYSE: APO) for $34.00 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:OMG stockholders by agreeing to sell OM Group, Inc. too cheaply via an unfair process to affiliates of Apollo Global Management, LLC .
On June 1, 2015, OM Group, Inc. (NYSE: OMG) announced that it has entered into an agreement to be acquired by funds managed by affiliates of Apollo Global Management, LLC (NYSE: APO) for $34.00 per share in cash.
However, the plaintiff claims that the proposed consideration NYSE: OMG unitholders will receive is grossly inadequate and undervalues OM Group, Inc. Indeed, at least one analyst has set the high target price for NYSE:OMG shares at $37.00 per share. In addition, the plaintiff claims that the process is also unfair to NYSE: OMG stockholders.
Shares of OM Group, Inc. (NYSE:OMG) closed on June 12, 2015, at $34.58 per share.