WILMINGTON, Del. (Legal Newsline) – A Bob Evans Farms stockholder has filed a class-action lawsuit against it and the company's board of directors over allegations of a failure to disclose information.
David Miller, individually and on behalf of all others similarly situated filed a complaint on Oct. 31 in the U.S. District Court for the District of Delaware against Bob Evans Farm Inc., Douglas N. Benham, Charles M. Elson, et al. for alleged violation of the Securities Exchange Act of 1934.
According to the complaint, the plaintiff alleges that on Sept. 18, the defendants entered into an agreement and plan of merger and that shareholders stood to receive $77 in cash for each share of Bob Evans stock they own.
The plaintiff claims the board authorized the filing of a materially incomplete and misleading preliminary proxy statement with the Securities Exchange Commission in order to convince shareholders to vote in favor of the merger.
The plaintiff requests a trial by jury and seeks judgment for damages sustained as a result of the alleged wrongdoing, award of costs, disbursement, attorneys' fees, expenses and such other and further relief as the court may deem just and proper. He is represented by Michael Van Gorder of Faruqui & Faruqui LLP in Wilmington, Delaware.
U.S. District Court for the District of Delaware Case number 1:17-cv-01538-VAC-CJB