An investor, who currently holds shares of Westar Energy Inc (NYSE:WR), filed a lawsuit in effort to halt the proposed takeover of Westar Energy Inc by Great Plains Energy Incorporated.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:WR stockholders by agreeing to sell Westar Energy Inc cheaply via an unfair process to Great Plains Energy Incorporated.

On May 31, 2016, Great Plains Energy Incorporated, the parent company of KCP&L, and Westar Energy, Inc announced an agreement for Great Plains Energy to acquire Westar in a combined cash and stock transaction with an enterprise value of approximately $12.2 billion, including total equity value of approximately $8.6 billion. Under the terms of the agreement Westar shareholders will receive $60.00 per share of total consideration for each share of Westar common stock, consisting of $51.00 in cash and $9.00 in Great Plains Energy common stock.

However, plaintiff claims that the proposed consideration NYSE:WR shareholders will receive is grossly inadequate and undervalues Westar Energy Inc. In addition, the plaintiff alleges that the two companies have not been forthcoming with necessary financial information about the new company, such as failing to include earnings projections.