SALT LAKE CITY (Legal Newsline) — A shareholder is suing a company and its board, alleging they provided misleading information to public stockholders regarding the sale of the company.
Rose Paprakis filed a class action lawsuit, individually and on behalf of all others similarly situated, July 19 in U.S. District Court for the District of Utah against Skullcandy, Inc., and directors S. Hoby Darling, Doug Collier, Heidi O'Neil, Jeff Kearl, Scott Olivet, Greg Warnock, Rick Alden and Jason Hodell, alleging violation of SEC law.
According to the complaint, Paprakis suffered financial damages because the defendants persuaded stockholders to support a transaction and tender their shares by providing misleading and inaccurate information regarding a planned merger.
Paprakis seeks a trial by jury, enjoining the defendant from proceeding with the merger unless all material information is disclosed and discussed with stockholders, damages, all legal fees and all relief the court deems just. She is represented by attorney David W. Scofield of Peters I Scofield in Sandy, Utah.
U.S. District Court for the District of Utah Case number 2:16-cv-00810-BCW