NEW YORK, Nov. 29, 2016
NEW YORK, Nov. 29, 2016 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Headwaters Inc. ("HW" or the "Company") in connection with the proposed acquisition of the Company by Boral Ltd. ("Boral"). On November 20, 2016, the Company announced that it had reached a definitive agreement for Boral to acquire all outstanding shares of HW in a transaction valued at approximately $2.6 billion. Under the terms of the agreement, the Company's shareholders will receive $24.25 in cash for each HW share they own.
WeissLaw is investigating whether HW's Board acted to maximize shareholder value prior to entering into the agreement. Notably, the Company recently announced positive financial results for the fourth quarter and fiscal year 2016. On November 1, 2016, HW reported revenues increased 7% to $291.6 million in the fourth quarter, and 9% to $975 million in fiscal year 2016. Additionally, HW also reported adjusted EBITDA also increased 14% to $190 million.
Given these facts, WeissLaw is investigating whether HW's Board acted in the best interests of HW's public shareholders to maximize shareholder value prior to entering into the agreement. If you own HW shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at email@example.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/headwaters-inc/
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/headwaters-inc-acquisition-may-not-be-in-the-best-interests-of-hw-shareholders-300369840.html
SOURCE WeissLaw LLP