TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

Temple-Inland, Inc. Investor Files Lawsuit Over Rejection Of Proposed Takeover

  • If you are a current investor in Temple-Inland, Inc. (NYSE: TIN) shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • 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

Company
Temple-Inland, Inc.
Security
NYSE: TIN

Case Name
Temple-Inland Shareholder Derivative Action 07/22/2011
Type of Lawsuit
Stockholder Derivative Action
You must register or login to receive notifications.

Click here to subscribe to Temple-Inland, Inc. .
Summary

An investor in Temple-Inland, Inc. (NYSE: TIN) filed a lawsuit against the board of directors of Temple-Inland, Inc. in connection with their rejection of the proposal by International Paper that it intended to acquire all of the outstanding shares of Temple-Inland (NYSE: TIN) for $30.60 per share.
According to the complaint the plaintiff alleges that the members of the board of directors of Temple-Inland breached their fiduciary duties owed to NYSE TIN stockholders by rejecting the offer by Intl. Paper to take over Timple-Inland for $30.60 per share.

On June 6, 2011, International Paper (NYSE: IP) had announced that it proposed to acquire all of the outstanding shares of Temple-Inland (NYSE: TIN) for $30.60 per share in cash. International Paper said the offer represents a 44% premium to Temple-Inland's price as of noon EDT, June 6th, 2011 ($21.21)

The same day Temple-Inland, Inc. announced that its Board of Directors voted unanimously to reject International Paper’s proposal.

On June 7, 2011 NYSE: TIN stock jumped from $21.01 per share the day earlier to $29.49 per share. Since then NYSE TIN stock rose to as high as $30.33 per share.

Temple-Inland performance increased recently. Temple-Inland’s annual Total Revenue rose from $3.57billion in 2009 to $3.79billion in 2010. Its quarterly Revenue rose from $905million for the first quarter in 2010 to $955million for the first quarter in 2011.

Shares of Temple Inland, Inc. (Public, NYSE:TIN) grew over the past two years significantly. NYSE TIN stock rose from as low as $2.52 in March 2009 to over $25 per share in February 2011.

However, the plaintiff alleges that the defendants rejected the merger offer in order to keep financial beenfits for themselves and harmed shareholders of Temple-Inland by their refusal to play ball regariding the merger offer.