July 7, 2017 (Shareholders Foundation) - An investor, who currently holds shares of West Corp (NASDAQ:WSTC), filed a lawsuit in effort to halt the proposed takeover of West Corp . by affiliates of certain funds managed by affiliates of Apollo Global Management, LLC at $23.50 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:WSTC stockholders by agreeing to sell West Corp cheaply via an unfair process.

On May 09, 2017, West Corporation (Nasdaq:WSTC) announced it has entered into an agreement with affiliates of certain funds managed by affiliates of Apollo Global Management, LLC (the Apollo funds ) (together with its consolidated subsidiaries, Apollo ), pursuant to which the Apollo funds will acquire all of the outstanding shares of West common stock for $23.50 per share in cash.

However, plaintiff claims that the proposed consideration NASDAQ:WSTC shareholders will receive with Starwood Capital Group offer is grossly inadequate and undervalues West Corporation. Indeed, at least one analyst has set the high target price for NASDAQ:WSTC shares at $29.00 per share.

In addition, the plaintiff alleges that the process is also unfair NASDAQ:WSTC stockholders. Indeed, certain West stockholders, including Thomas H. Lee Partners, L.P., Quadrangle Group LLC, Gary L. West and Mary E. West, who in the aggregate beneficially own approximately 45 percent of West's outstanding common stock.