Suit Seeks To Halt $265M China Fire, Bain Merger

Law360, New York (July 15, 2011, 9:07 PM EDT) -- Shareholders hit China Fire & Security Group Inc. with a proposed class action Friday in Delaware seeking to stop its $265.5 merger with affiliates of Bain Capital Partners LLC, claiming the proposal undervalues shares and unfairly benefits executives.

James P. Tessitore, the named plaintiff, owns 23,450 shares of common stock in China Fire, a Beijing-based industrial fire protection company that designs, manufactures and sells fire and maintenance services. He claims three executive board members owning 59 percent of the voting power breached their fiduciary duty by...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.