The Law Office of Robbins Arroyo LLP Announces that It Has Filed a Class Action Lawsuit Against Outerwall Inc.
Robbins Arroyo LLP announces that it filed a class action lawsuit on August 19, 2016, in the U.S. District Court for the Western District of Washington at Seattle (the “Court”) on behalf of the shareholders of Outerwall Inc. (“Outerwall”) (NASDAQGS: OUTR) against its Board of Directors for, among other things, violations of sections 14(e) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and U.S. Securities and Exchange Commission (“SEC”) Rule 14a-9 promulgated thereunder.
Outerwall Is Accused of Disseminating a False and Misleading Proxy Statement
The action arises out of a July 25, 2016 press release announcing that Outerwall had entered into an Agreement and Plan of Merger pursuant to which Apollo Global Management, LLC will acquire all of Outerwall’s common stock for $52 per share in cash (the “Proposed Acquisition”). The complaint seeks injunctive relief on behalf of the named plaintiff and all other similarly situated Outerwall shareholders (the “Class”). The named plaintiff is represented by Robbins Arroyo LLP.
The complaint alleges that, in an attempt to secure shareholder approval of the Proposed Acquisition, defendants filed a materially false and misleading Recommendation Statement with the SEC in violation of the Exchange Act. The omitted and/or misrepresented information is believed to be material to Outerwall shareholders’ ability to make an informed decision whether to approve the Proposed Acquisition.
If you purchased or otherwise acquired Outerwall on or prior to the July 25, 2016 announcement of the Proposed Acquisition and wish to serve as lead plaintiff, you must move the Court no later than sixty days from August 26, 2016.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact attorney Darnell R. Donahue of Robbins Arroyo LLP at 800-350-6003, or you can complete the form below and we will contact you directly.