Credit: kasarp/Adobe Stock Construction Equipment Provider AEC Holding Co. Hit With Securities Action For Allegedly Inaccurate Valuations
This suit was surfaced by Law.com Radar. Read the complaint here.
February 03, 2022 at 11:54 AM
1 minute read
Construction
Fox Rothschild and Harris Beach PLLC filed a breach-of-contract lawsuit Tuesday in Pennsylvania Western District Court on behalf of the Estate of Douglas W. Anderson and other plaintiffs. The suit pursues claims against construction equipment provider AEC Holding Company Inc. for failing to provide accurate material information to shareholders in accordance with an executed shareholder agreement. The suit further contends that valuations conducted on behalf of AEC for The Estates 25.56% ownership interest were grossly inadequate as AEC paid the estate $3,528,236 for its shares when the fair market value was $13,522,812. Counsel have not yet appeared for the defendant. The case is 2:22-cv-00182, Anderson et al. v. AEC Holding Company.
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