NEW YORK, June 5, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Lionbridge Technologies, Inc. ("Lionbridge" or the "Company") (NASDAQ: LIOX) and certain of its officers, on behalf of shareholders who purchased Lionbridge securities on January 27, 2017, in connection with an Agreement and Plan of Merger dated December 12, 2016, by and among Lionbridge, LBT Acquisition, Inc. and LBT Merger Sub, Inc. (the "Merger Agreement"), under which Lionbridge stockholders received $5.75 per share in cash and Lionbridge became a wholly owned subsidiary of H.I.G. Capital L.L.C. (the "Merger"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/liox.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that Defendants made materially false and misleading statements regarding Lionbridge's prospects and value in order encourage shareholders to accept the Merger. The complaint continues to allege that on January 31, 2017, defendants caused the Company to file with the SEC a Definitive Proxy Statement (the "Proxy Statement"), in which the members of the Board recommended that stockholders vote their shares in favor of the Merger Agreement. The Proxy Statement disclosed management projections that contemplated revenue growth over the next several years of less than 3.9% per year. Those projections were allegedly inconsistent with Lionbridge's average revenue growth of about 7% per year from 2011 to 2015, and with the defendants' actual strategic plans for the Company. On February 28, 2017, majority of the Lionbridge stockholders voted in favor of the Merger Agreement and later that day the Company and HIG completed the Merger.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/liox or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Lionbridge you have until June 27, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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