Tenneco, a manufacturer of automotive components, and members of its board of directors were hit with a shareholder lawsuit Friday in Pennsylvania Eastern District Court over the company's proposed sale to affiliates of Apollo Global Management. The case, brought by the Grabar Law Office on behalf of Matthew Whitfield, alleges that the proxy statement filed in favor of the proposed $7.1 billion take-private transaction misrepresents material information. Counsel have not yet appeared for the defendants. The case is 2:22-cv-01052, Whitfield v. Tenneco Inc. et al.
Automotive
March 18, 2022, 7:07 PM