NEW YORK, Jan. 18, 2017 /PRNewswire/ -- Notice is hereby given that Monteverde & Associates PC has filed a class action lawsuit in the United States District Court for Western District of Texas, case no. 3:17-cv-00002, on behalf of shareholders of Western Refining, Inc. ("Western " or the "Company")(NYSE: WNR) who held Western securities and have been harmed by Western and its board of directors' (the "Board") alleged violations of Sections 14(a), and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with the sale of the Company to Tesoro Corporation ("Tesoro").
Pursuant to the terms of the Merger Agreement, Western stockholders will receive
$37.30 per share of Western stock (the "Merger Consideration"). Western shareholders will have the option to either receive 0.4350 shares of Tesoro or cash for each share of Western stock. The complaint alleges that this offer is inadequate and alleges that the Registration Statement in Form S-4 (the "Proxy") provides materially incomplete and misleading information about the Company's financials and the transaction, in violation of Sections 14(a), and 20(a) of the Exchange Act.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:
Click here for more information: www.monteverdelaw.com/investigations. It is free and there is no cost or obligation to you.
Monteverde & Associates PC is a boutique class action securities and consumer litigation law firm committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates PC lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct.
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. 59th Floor
New York, NY 10118
United States of America
Tel: (212) 971-1341
Attorney Advertising. (C) 2017 Monteverde & Associates PC. Prior results do not guarantee a similar outcome with respect to any future matter.
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SOURCE Monteverde & Associates PC