Stockholder Files Securities Suit Over Swift and Knight Merger
by Erin Shaak
Last Updated on May 8, 2018
Peterson v. Swift Transportation Company et al
Filed: June 29, 2017 ◆§ 2:17-cv-02073-DMF
A stockholder has filed suit against Swift Transportation Company and its board of directors for allegedly failing to disclose necessary information in a registration statement associated with a proposed merger between Swift and Knight Transportation Inc.
A stockholder has filed suit against Swift Transportation Company and its board of directors for allegedly failing to disclose necessary information in a registration statement associated with a proposed merger between Swift and Knight Transportation, Inc. The plaintiff claims the defendants omitted details regarding the company’s financial projections and potential conflicts of interest concerning Swift’s board of directors and financial advisor. More specifically, the registration statement allegedly neglects to disclose the reasons why Swift’s board decided to grant themselves additional compensation for their work associated with the merger and the details regarding how much each person was paid. The suit further argues that the company failed to mention the details concerning the lending relationship between its financial advisor and current or former executives of Swift and Knight. The plaintiff says she is lacking the information needed to determine whether the deal is fair to stockholders.
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