WILMINGTON, Del., Sept. 25, 2014 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a class action lawsuit has been filed on behalf of stockholders of Dresser-Rand Group Inc. ("Dresser-Rand" or the "Company") (NYSE:DRC) seeking to challenge the Company's recently announced merger.
If you would like to join the class action, please visit our website or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook – www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
On September 21, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which Siemens AG ("Siemens") will acquire Dresser-Rand in a merger in a deal worth $7.6 billion. As a result of the merger, Dresser-Rand shareholders are only anticipated to receive $83.00 per share in cash in exchange for each share of Dresser-Rand. Dresser-Rand shareholders will also receive an additional $0.55 per share on the first day of each month starting March 1, 2015 until the merger closes. The process leading up to the announcement of the merger, however, appears to have some substantial conflicts of interest, thus making the process and consideration unfair. As indicated by Dresser-Rand, the Company's entire executive management team will continue their roles with Siemens upon commencement of the merger. Additionally, the consideration Dresser-Rand shareholders are expected to receive is inadequate. Analysts at Yahoo! Finance have set a $100.00 per share price target for Dresser-Rand which is 20.4% more than what shareholders are expected to receive.
On September 24, 2014, a Dresser-Rand shareholder filed a class action complaint that challenges Dresser-Rand's merger with Siemens. The complaint was filed in the Delaware Court of Chancery, Case No. 10165. To obtain a copy of the complaint please contact us.
If you own shares of Dresser-Rand and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/DRC or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook – www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.