PHILADELPHIA (Legal Newsline) -- A public stockholder is suing a a corporation and its board of directors, alleging negligent misrepresentation and violation of federal securities law.
Darcy J. Paterson filed a class action complaint, individually and on behalf of all others similarly situated, Dec. 27 in U.S. District Court for the Eastern District of Pennsylvania against Chemtura Corporation Inc. and board members Craig A. Rogerson, Jeffrey D. Benjamin, Timothy J. Bernlohr, Anna C. Catalano, James W. Crownover, Robert A. Dover, Jonathan F. Foster, and John K. Wulff, alleging violation of the SEC Act of 1934 regarding a proxy statement for a proposed transaction.
According to the complaint, Paterson suffered monetary damages from being misled due to the false statement issued by the Chemtura board of directors. The plaintiff alleges the defendants issued misleading information regarding the company in order to move forward with the proposed merger with Lanxess Deutschland.
Paterson seeks trial by jury, to enjoin the defendant, rescissory damages, interest, court costs and all further relief. She is represented by attorneys Kenneth I. Trujillo and Matthew S. Olesh of Chamberlain, Hrdlicka, White, Williams & Aughtry in West Conshohocken, Pennsylvania, and by Donald E. Enright of Levi & Korsinsky LLP in Washington.
U.S. District Court for the Eastern District of Pennsylvania Case number 2:16-cv-06626-ER