OMNOVA Solutions

OMNOVA (OMN) Alert: Johnson Fistel Investigates Proposed Sale of OMNOVA Solutions; Is $10.15 a Fair Price?

SAN DIEGO- PRNewswire —July 3, 2019

Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of OMNOVA Solutions Inc. (NYSE: OMN) (“OMNOVA”) breached their fiduciary duties in connection with the proposed sale of the Company to Synthomer plc.

On July 3, 2019, OMNOVA announced that it had signed a definitive merger agreement with Synthomer plc. Under the terms of the deal, Synthomer plc will acquire all of the outstanding shares of OMNOVA for $10.15 per share in cash.

The investigation concerns whether the OMNOVA board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for OMNOVA shares of common stock.

Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts’ projections for future earnings and revenue growth, also one Wall Street analyst has a $13.00 price target on the stock. The 52-week high for OMNOVA was $10.70.

If you are a shareholder of OMNOVA and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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  • Plaintiff certifies that:
    • 1. Plaintiff did not acquire the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this private action or any other litigation under the federal or state securities laws.
    • 2. Plaintiff is willing to serve as a representative party, including providing testimony at deposition and trial, if necessary.
    • 3. Plaintiff represents and warrants that he/she/it is fully authorized to enter into and execute this certification.
    • 4. If a class action is filed, Plaintiff will not accept any payment for serving as a representative party on behalf of a class beyond the Plaintiff's pro rata share of any recovery, except such reasonable costs and expenses (including lost wages) directly relating to the representation of the class as ordered or approved by the court.
    • 5. For purposes of a class action, Plaintiff has made no transaction(s) during the Class Period in the debt or equity securities that are the subject of this action except those set forth below:
  • Acquisitions (include: date shares were acquired, number of shares acquired, and acquisition price per share. Separate each item with a comma. For multiple acquisitions, separate each acquisition with a new line):
  • Sales (include: date shares were sold, number of shares sold, and selling price per share. Separate each item with a comma. For multiple sales, separate each sale with a new line.):
  • During the three years prior to the date of this certification, Plaintiff has not sought to serve or be served as a representative party for a class in an action filed under the federal securities law except if detailed below:

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