SAN DIEGO, Sept. 26, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Chemtura Corporation (NYSE: CHMT) breached their fiduciary duties in connection with the proposed sale of the Company to LANXESS AG.
Chemtura develops, manufactures and markets performance-driven engineered industrial specialty chemicals for industrial manufacturing customers in the United States and internationally.
On September 25, 2016, Chemtura announced it had signed a definitive merger agreement with LANXESS. Under the terms of the agreement, Chemtura stockholders will receive $33.50 in cash for each share of common stock.
The investigation concerns whether the Chemtura board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Chemtura shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given one Wall Street analyst has a $35.00 price target on the stock.
If you are a shareholder of Chemtura and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
SOURCE Johnson & Weaver, LLP