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| Protecting the Rights of Shareholders and Consumers |
Waste Services, Inc. Securities Litigation
Waste Services, Inc. (NasdaqGM: WSII) shareholder litigation over alleged unfair takeover
On November 11, 2009, Waste Services, Inc. (“Waste Services” or the “Company”) announced that it agreed to sell the Company
to IESI-BFC Ltd. ("IESI-BFC"). Under the terms of the transaction, Waste Services shareholders are to receive 0.5833 of an IESI-
BFC share for each Waste Services share they own. Based on the closing share price of IESI-BFC stock the day before the
announcement, the proposed transaction values Waste Services shares at $7.76 per share and implies a total transaction value
of approximately $370 million.
The investigation concerns whether the Waste Services Board of Directors have breached their fiduciary duties to stockholders by
failing to adequately shop the Company before entering into this transaction and whether IESI-BFC is underpaying for Waste
Services shares, thus unlawfully harming Waste Services stockholders.
On November 11, 2009, Waste Services, Inc. (“Waste Services” or the “Company”) announced that it agreed to sell the Company
to IESI-BFC Ltd. ("IESI-BFC"). Under the terms of the transaction, Waste Services shareholders are to receive 0.5833 of an IESI-
BFC share for each Waste Services share they own. Based on the closing share price of IESI-BFC stock the day before the
announcement, the proposed transaction values Waste Services shares at $7.76 per share and implies a total transaction value
of approximately $370 million.
The investigation concerns whether the Waste Services Board of Directors have breached their fiduciary duties to stockholders by
failing to adequately shop the Company before entering into this transaction and whether IESI-BFC is underpaying for Waste
Services shares, thus unlawfully harming Waste Services stockholders.
