PITTSBURGH – A stock owner of Moon Township's Calgon Carbon Corp. alleges a proxy statement filed in a proposed acquisition omits information.
George Assad filed a complaint on behalf of himself and all others similarly situated on Nov. 2 in the U.S. District Court for the Western District of Pennsylvania against Calgon Carbon Corp., J. Rich Alexander, Randall S. Dearth, William J. Lyons, et al. citing the Securities Exchange Act of 1934.
According to the complaint, in September, Calgon announced it would be acquired by Kuraray Co. LTD, Kuraray Holdings USA Inc. and KJ Merger Sub Inc. and filed a proxy statement with the U.S. Securities and Exchange Commission the following month. The plaintiff alleges this statement omits material information and that because of this, the proxy statement is false and misleading.
The plaintiff requests a trial by jury and seeks enjoin the defendants from proceeding with the proposed transaction, order the defendants to disseminate a proxy statement that does not contain any untrue statements of material fact, court costs and any further relief this court grants. He is represented by Alfred G. Yates Jr. and Gerald L. Rutledge of Law Office of Alfred G. Yates Jr. P.C. in Pittsburgh and by Rigrodsky & Long PA in Wilmington, Delaware, and of RM Law PC in Berwyn.
U.S. District Court for the Western District of Pennsylvania case number 2:17-cv-01433-AJS