SAN DIEGO, July 3, 2019 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of OMNOVA Solutions Inc. (NYSE: OMN)
("OMNOVA") breached their fiduciary duties in connection with the
proposed sale of the Company to Synthomer plc.
On July 3, 2019, OMNOVA announced
that it had signed a definitive merger agreement with Synthomer
plc. Under the terms of the deal, Synthomer plc will acquire all of
the outstanding shares of OMNOVA for $10.15 per share in cash.
The investigation concerns whether the OMNOVA board failed to
satisfy its 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 OMNOVA
shares of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
analysts' projections for future earnings and revenue growth, also
one Wall Street analyst has a $13.00
price target on the stock. The 52-week high for OMNOVA was
$10.70.
If you are a shareholder of OMNOVA 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 (jimb@johnsonfistel.com) at
619-814-4471. If emailing, please include a
phone number.
Additionally, you can [Click here to join this action].
There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, 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
https://www.johnsonfistel.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP
