The Law Office of Robbins Arroyo LLP Announces That It Has Filed a Class Action Lawsuit Against Outerwall Inc.
August 26 2016 - 5:54PM
Business Wire
Shareholder rights law firm Robbins Arroyo LLP announces that it
filed a class action lawsuit on August 19, 2016, in the U.S.
District Court for the Western District of Washington at Seattle
(the "Court") on behalf of the shareholders of Outerwall Inc.
("Outerwall") (NASDAQGS: OUTR) against its Board of Directors for,
among other things, violations of sections 14(e) and 20(a) of the
Securities Exchange Act of 1934 (the "Exchange Act") and U.S.
Securities and Exchange Commission ("SEC") Rule 14a-9 promulgated
thereunder.
Outerwall Is Accused of Disseminating a False and Misleading
Proxy Statement
The action arises out of a July 25, 2016 press release
announcing that Outerwall had entered into an Agreement and Plan of
Merger pursuant to which Apollo Global Management, LLC will acquire
all of Outerwall's common stock for $52 per share in cash (the
"Proposed Acquisition"). The complaint seeks injunctive relief on
behalf of the named plaintiff and all other similarly situated
Outerwall shareholders (the "Class"). The named plaintiff is
represented by Robbins Arroyo LLP.
The complaint alleges that, in an attempt to secure shareholder
approval of the Proposed Acquisition, defendants filed a materially
false and misleading Recommendation Statement with the SEC in
violation of the Exchange Act. The omitted and/or misrepresented
information is believed to be material to Outerwall shareholders'
ability to make an informed decision whether to approve the
Proposed Acquisition.
If you purchased or otherwise acquired Outerwall on or prior to
the July 25, 2016 announcement of the Proposed Acquisition and wish
to serve as lead plaintiff, you must move the Court no later than
sixty days from August 26, 2016. If you wish to discuss this action
or have any questions concerning this notice or your rights or
interests, please contact attorney Darnell R. Donahue of Robbins
Arroyo LLP at 800-350-6003, via the shareholder information form on
our website, or by e-mail at info@robbinsarroyo.com. Any member of
the 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.
Robbins Arroyo LLP, a nationally recognized leader in the area
of shareholder rights litigation, represents individual and
institutional investors in securities class action lawsuits and
shareholder derivative actions. Robbins Arroyo LLP has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested. Past results do not
guarantee similar outcomes. For more information about the firm,
please go to http://www.robbinsarroyo.com.
Press release link:
www.robbinsarroyo.com/shareholders-rights-blog/outerwall-inc-august-2016
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160826005812/en/
Robbins Arroyo LLPDarnell R. Donahue(619) 525-3990 or Toll Free
(800) 350-6003ddonahue@robbinsarroyo.comwww.robbinsarroyo.com
Outerwall Inc. (NASDAQ:OUTR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Outerwall Inc. (NASDAQ:OUTR)
Historical Stock Chart
From Sep 2023 to Sep 2024