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[Nov 2006]
Jacuzzi Brands Responds to Shareholder Suits Regarding Proposed Merger
Jacuzzi Brands Inc (West Palm Beach, FL, USA) has announced that the company and each of its directors have been named as defendants in two purported stockholder class action lawsuits filed on 13 October 2006 in the Chancery Court of the State of Delaware.
The lawsuits generally allege that the directors have breached their fiduciary duties in connection with their actions in agreeing to the company's proposed merger with a wholly owned subsidiary of Apollo Management LP. The complaints seek injunctive relief as well as damages.
Jacuzzi Brands Inc has reviewed the allegations contained in the complaints and believes that the lawsuits are without merit. It intends to vigorously defend itself against the claims.
www.jacuzzibrands.com
ENDS