NEW YORK, Nov. 29, 2016 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Headwaters Inc.
("HW" or the "Company") in connection with the proposed acquisition
of the Company by Boral Ltd. ("Boral"). On November 20, 2016, the Company announced that it
had reached a definitive agreement for Boral to acquire all
outstanding shares of HW in a transaction valued at approximately
$2.6 billion. Under the terms
of the agreement, the Company's shareholders will receive
$24.25 in cash for each HW share they
own.
WeissLaw is investigating whether HW's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the Company recently announced positive financial results
for the fourth quarter and fiscal year 2016. On November 1, 2016, HW reported revenues increased
7% to $291.6 million in the fourth
quarter, and 9% to $975 million in
fiscal year 2016. Additionally, HW also reported adjusted
EBITDA also increased 14% to $190
million.
Given these facts, WeissLaw is investigating whether HW's Board
acted in the best interests of HW's public shareholders to maximize
shareholder value prior to entering into the agreement. If
you own HW shares and would like more information about your rights
or our investigation, or if you have information to share with us,
please contact Joshua Rubin by
telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/headwaters-inc/
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SOURCE WeissLaw LLP