trending Market Intelligence /marketintelligence/en/news-insights/trending/1uDXHv-pVsWmFqUHsifqpg2 content esgSubNav
In This List

Calamos Asset Management discloses putative class-action lawsuit

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Banks’ Response to Rising Rates & Liquidity Concerns


Calamos Asset Management discloses putative class-action lawsuit

Calamos Asset Management Inc. is facing a putative class-action lawsuit alleging that the company's board and controlling stockholders violated their fiduciary duties to shareholders regarding its proposed deal to go private.

The complaint was filed Jan. 25 in the Court of Chancery of the State of Delaware against the company's board; John Calamos Sr., founder and global chief investment officer of Calamos Investments LLC; John Koudounis, CEO of Calamos Asset Management; a unit of Calamos Partners LLC; and CPCM Acquisition Inc. It alleges that the deal's offer price undervalues the company's shares and that the offer and proposed transaction are "structurally coercive."

The complaint also alleges that the merger agreement "contains certain allegedly preclusive deal protection provisions" and that the company's public disclosures are "materially incomplete and misleading."

Calamos Asset Management said it believes that the allegations are without merit and expects the defendants to "defend against them vigorously."