Investors Sue Cincinnati Bell In Del. Over $2.6B Merger Plan

Law360 (February 21, 2020, 8:21 PM EST) -- Cincinnati Bell Inc. stockholders hit the company late Thursday with a proposed class action in Delaware federal court alleging disclosure shortcomings ahead of its $2.6 billion proposed acquisition by Toronto-based Brookfield Infrastructure Inc. and seeking a deal block or reversal.

The 11-page Securities Exchange Act complaint filed by lead stockholder Dennis Palkon accused the company of omitting key details needed to assess the company's valuation and the basis for the $10.50 per share cash offer in the merger agreement, which was approved by Cincinnati Bell's board on Dec. 21, 2019.

Cincinnati Bell provides data transmission and distribution to networks in Ohio, Kentucky,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!