Shareholder challenges ATI’s $778M Ladish deal
Dec 30, 2010 | 12:23 PM
One of 2010's largest acquisitions in aerospace metals is being challenged in court as the $778-million purchase of forgings and castings producer Ladish Co. by Allegheny Technologies Inc. (ATI) faces a shareholder lawsuit with class-action potential.
The lawsuit claims that Ladish, which agreed in November to be acquired by Pittsburgh-based ATI, made "material misstatements and omissions" in its public filings with the U.S. Securities and Exchange Commission (SEC). Attorneys for shareholder Irene Dixon are asking the court to prevent consummation of the acquisition and order Ladish to seek a deal "in the best interests" of its shareholders. ....
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