Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against DST Systems, Inc.
Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the District of Delaware, case No. 1:18-cv-00286, on behalf of shareholders of DST Systems, Inc. (“DST Systems” or the “Company”) (NYSE:DST) who have been harmed by DST Systems’ and its board of directors’ (the “Board”) alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) in connection with the proposed merger of the Company with certain affiliates of SS&C Technologies, Inc.
On January 11, 2018, the Board caused the Company to enter into an Agreement and Plan of Merger (“Proposed Transaction”), pursuant to which the Company’s shareholders stand to receive $84.00 in cash for each share of DST Systems stock they own. The shareholder vote on the Proposed Transaction is expected to occur on March 28, 2018.
The complaint alleges that the preliminary proxy statement (the “Proxy”) filed with the Securities and Exchange Commission (“SEC”) on February 7, 2018, violates Sections 14(a) and 20(a) of the Exchange Act because it provides materially incomplete and misleading information about the Company and the Proposed Transaction, including information concerning the Company’s financial projections and analysis, on which the Board relied to recommend the Proposed Transaction as fair to DST Systems shareholders.
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Filed on 03/12/2018
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Nadeem Faruqi firstname.lastname@example.org Phone (212) 983-9330 Fax (212) 983-9331