NEW YORK, Aug. 8, 2008 (PRIME NEWSWIRE) -- Investor Notice - Attorney Advertising -- Bull & Lifshitz, LLP announces that a class action lawsuit has been commenced in the Massachusetts Superior Court on June 17, 2008 on behalf of shareholders of Perini Corp. ("Perini" or the "Company") (NYSE:PCR) against the Company, Tutor-Saliba Corporation ("Tutor-Saliba"), and the individual members of Perini's Board.
Under the terms of the Agreement and Plan of Merger (the "Merger Agreement") dated April 2, 2008, as amended, in exchange for all the outstanding stock of Tutor-Saliba, Tutor-Saliba shareholders will receive a total of 22,987,293 shares of Perini common stock, representing approximately 45% of the outstanding Perini common stock following the completion of the transaction (the "Merger"). The Merger has been approved by Perini's Board of Directors but requires the approval of Perini's common stockholders. Such shareholder approval, among other matters, is being sought by the Perini Board of Directors at the Perini annual meeting of shareholders that will be held on September 5, 2008.
The Complaint alleges, among other things, various disclosure violations in the proxy statements issued by Perini in connection with the Merger between Perini and Tutor-Saliba. Plaintiff has alleged that Perini's shareholders are being denied their fundamental right to make an informed decision on whether to vote for or against the Merger. Additionally, the Complaint alleges that the Merger was agreed to without any market check and that the Company's financial advisor is conflicted.
Plaintiff intends to seek injunctive relief, inter alia, enjoining the shareholder vote scheduled for September 5, 2008 until additional information is provided in the proxy materials concerning the Merger.
If you would like further information concerning your legal rights or for an information package: (www.nyclasslaw.com/infopkg.html), please contact Joshua M. Lifshitz, Esq., Bull & Lifshitz, LLP via telephone at (212) 213-6222, via fax at (212) 213-9405 or by email at counsel@nyclasslaw.com
Attorney Advertising. Prior results do not guarantee a similar outcome.
More information on this and other class actions can be found on the Class Action Newsline at http://www.primenewswire.com/ca