WILMINGTON, Del., March 11, 2020 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the District of Delaware on behalf of holders of Cincinnati Bell Inc. ("Cincinnati Bell" or the "Company") CBB common stock in connection with the proposed acquisition of Cincinnati Bell by Charlie AcquireCo Inc. ("Charlie") and Charlie Merger Sub Inc. ("Merger Sub") announced on December 23, 2019 (the "Complaint"). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against Cincinnati Bell and its Board of Directors (the "Board"), Charlie, and Merger Sub is captioned Palkon v. Cincinnati Bell Inc., Case No. 1:20-cv-002244 (D. Del.).
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, DE 19801, by telephone at (888) 969-4242, by e-mail at info@rl-legal.com, or at https://www.rigrodskylong.com/cases-cincinnati-bell-inc,join.
On December 21, 2019, Cincinnati Bell entered into an agreement and plan of merger (as amended, the "Merger Agreement") with Charlie and Merger Sub. Pursuant to the terms of the Merger Agreement, shareholders of Cincinnati Bell will receive $13.50 in cash for each share of Cincinnati Bell common stock they own (the "Proposed Transaction").
Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a proxy statement (the "Proxy Statement") filed with the United States Securities and Exchange Commission. The Complaint alleges that the Proxy Statement omits material information with respect to, among other things, the Company's financial projections and the analyses performed by Cincinnati Bell's financial advisors. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of Cincinnati Bell common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than May 11, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Delaware and New York, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in securities fraud and corporate class actions nationwide.
Attorney advertising. Prior results do not guarantee a similar outcome.
CONTACT:
Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242 (Toll Free)
(302) 295-5310
Fax: (302) 654-7530
info@rl-legal.com
https://rl-legal.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
