Levi & Korsinsky announces it has filed a class action lawsuit in the USDC for the District of Oregon, Portland Division, on behalf of shareholders of Blount International, Inc. (NYSE: BLT) who held shares at the close of business on March 4, 2016.
The complaint alleges that Blount International violated securities laws by issuing materials in connection with the sale of the Company to P2 Capital Partners LLC and American Securities LLC which contained material misrepresentations and omitted material information. In particular, the complaint alleges that the Proxy Statement filed in relation to the merger fails to disclose information about the Company’s financial projections as they existed earlier in the process leading up to the Buyout, thus misrepresenting and omitting information which Blount shareholders are legally entitled to in order to make a sufficiently informed vote regarding the proposed merger.
If you suffered a loss in Blount International you have until June 10, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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