Recent Securities Litigations
Continental Building Products, Inc. (NYSE: CBPX)
According to the Complaint, Continental Building Products is a leading North American manufacturer of gypsum wallboard and complementary finishing products.
This action stems from a proposed transaction announced on November 12, 2019, pursuant to which Continental Building Products, Inc. will be acquired by CertainTeed Gypsum and Ceilings USA, Inc.
On November 12, 2019, Continental Building Products’ Board of Directors caused the Company to enter into an agreement and plan of merger with CertainTeed Gypsum and Ceilings USA, Inc. Pursuant to the terms of the Merger Agreement, Continental Building Products’ stockholders will receive $37.00 in cash for each share of Continental Building Products common stock they own.
On December 11, 2019, Defendants filed a proxy statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.