NEW YORK (Legal Newsline) — A stockholder is suing a health business and its board, alleged violation of federal law.
Paul Ebbs filed a class action complaint, individually and on behalf of all others similarly situated, Nov. 18 in U.S. District Court for the Southern District of New York against Everyday Health Inc., Doug McCormick, Ben Wolin, Habi B. Kairouz, David Golden, Sharon Wienbar, Myrtle Potter, Dan Evan and Laizer Kornwasser, alleging violation of the 1934 SEC Act in issuing incomplete and misleading information regarding a proposed transaction.
According to the complaint, Ebbs suffered financial damages as the result of a proposed merger between Everyday Health and Ziff Davis' Project Echo Acquisition Corp. The plaintiff alleges the defendants failed to provide adequate disclosure regarding the proposed merger to common stockholders.
Ebbs seeks trial by jury, enjoining the defendant, rescissory damages, all legal fees and all other relief the court deems just. He is represented by attorney Shane T. Rowley of Levi & Korsinsky LLP in New York.
U.S. District Court for the Southern District of New York Case number 1:16-cv-08982-VSB