CASES
Cascal N.V.
Lead Plaintiff Deadline: Aug 9, 2010 + Deadline passed
Summary of Case:
A securities class action has been filed against Cascal N.V. (HOO) ("Cascal" or the "Company") on behalf of all securities purchasers on May 21, 2010, in the United States District Court for the Southern District of New York.
The complaint alleges that Sembcorp failed to disclose material information in Tender Offer materials filed with the SEC and publicly disseminated in connection with the Tender Offer by Sembcorp for Cascal. Cascal invests in and operates water and wastewater systems.
According to the complaint, the Tender Offer materials were materially false and misleading because they included only a summary of one set of financial projections and failed to disclose, inter alia: (i) whether the "summary" of projections was relied on by Sembcorp and/or its financial advisor in developing the terms of its Tender Offer; (ii) whether the projections supported or did not support the Tender Offer consideration; (iii) whether the "summary" was supported or not supported by other company financial information made available to Sembcorp; and (iv) whether those projections were the sole projections provided to Sembcorp by Cascal, or whether later updated and/or additional projections were provided to Sembcorp. The complaint further alleges that the Tender Offer materials made numerous material omissions about the process leading up to the Tender Offer and misrepresented the practical effect of a court ruling in previous litigation regarding the Tender Offer.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.