Cases
Linkwell Corporation (Other : LWLL)
Merger
Overview
Overview
- Date:
- 10/27/2016
- Company Name:
- Linkwell Corporation
- Stock Symbol:
- LWLL
- Class Period:
- FROM 10/27/2014
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern Florida
NEW YORK, October 27, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Florida Southern District Court on behalf of all persons or entities who held Linkwell Corporation (Other : LWLL) securities on October 27, 2014 (the “Class Period”).
The complaint charges Xuelian Bian; Wei Guan; Sidley Austin LLP; Shanghai Yinling Asset Management Co., Ltd.; Lead First Capital Limited; and Leading World Corporation for their misconduct in connect with the design, implementation, and consummation of a covert go-private merger transaction.
The Acquisition was undertaken on behalf of and for the benefit of Xuelian and Wei to: (a) extinguish the valuable claims asserted against them in a previously filed derivative action (Siegmund v. Bian, et al., No. 12-cv-62539 (S.D. Fla.) (the “Derivative Action”); and (b) directly acquire for Xuelian, Wei and their affiliates total control of the Company’s disinfectant business in China.
As a result of the failure by Xuelian, Wei and Sidley to comply with Florida’s statutory notice requirements, Plaintiff did not discover the Acquisition until after its consummation. The failure to provide Plaintiff with statutory notice unlawfully and unfairly deprived Plaintiff of the opportunity to: (a) evaluate whether the $0.88 per share merger consideration was fair; (b) vote to approve the Merger Agreement; (c) exercise appraisal rights; or (d) move to enjoin the Acquisition. Plaintiff would have moved to enjoin the Acquisition in this action if the legally required notice had been provided. The failure to provide such notice rendered the approval of the Merger Agreement and consummation of the Acquisition a fait accompli.
The merger consideration paid to Linkwell’s public shareholders of $0.88 per share is less than 1% of the net asset value of Linkwell subsidiary Likang Disinfectant that was reported to SAIC for 2014.
If you held Linkwell securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The complaint charges Xuelian Bian; Wei Guan; Sidley Austin LLP; Shanghai Yinling Asset Management Co., Ltd.; Lead First Capital Limited; and Leading World Corporation for their misconduct in connect with the design, implementation, and consummation of a covert go-private merger transaction.
The Acquisition was undertaken on behalf of and for the benefit of Xuelian and Wei to: (a) extinguish the valuable claims asserted against them in a previously filed derivative action (Siegmund v. Bian, et al., No. 12-cv-62539 (S.D. Fla.) (the “Derivative Action”); and (b) directly acquire for Xuelian, Wei and their affiliates total control of the Company’s disinfectant business in China.
As a result of the failure by Xuelian, Wei and Sidley to comply with Florida’s statutory notice requirements, Plaintiff did not discover the Acquisition until after its consummation. The failure to provide Plaintiff with statutory notice unlawfully and unfairly deprived Plaintiff of the opportunity to: (a) evaluate whether the $0.88 per share merger consideration was fair; (b) vote to approve the Merger Agreement; (c) exercise appraisal rights; or (d) move to enjoin the Acquisition. Plaintiff would have moved to enjoin the Acquisition in this action if the legally required notice had been provided. The failure to provide such notice rendered the approval of the Merger Agreement and consummation of the Acquisition a fait accompli.
The merger consideration paid to Linkwell’s public shareholders of $0.88 per share is less than 1% of the net asset value of Linkwell subsidiary Likang Disinfectant that was reported to SAIC for 2014.
If you held Linkwell securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.