Investors Sue Arotech To Block $81M Greenbriar Deal

Law360 (October 31, 2019, 11:09 PM EDT) -- A stockholder of a defense and security company, Arotech, has asked a New York federal judge to halt its $80.8 million acquisition by private equity firm Greenbriar, claiming the buyer issued a misleading proxy statement to convince shareholders to vote for the deal.

In an individual investor's suit filed Wednesday in New York federal court, Arotech Corp. investor Jacqueline D. Creeks has urged a judge to pause an acquisition by Greenbriar Equity Group LP, alleging the proxy statement the shareholders received Oct. 23 left out financial projections and valuation analyses from Arotech's financial adviser B. Riley FBR Inc., telling the court...

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