By Leslie A. Pappas (June 23, 2022, 8:15 p.m. EDT) — A Trecora Resources shareholder has filed a lawsuit in Delaware over corporate records, seeking to investigate the private equity firm’s plans Balmoral Funds LLC to acquire the Texas-based petrochemicals maker in a $247 million tender offer that will expire at midnight Friday.
The lawsuit filed Wednesday by shareholder Jaclyn Rosenbaum alleges that the pending transaction “was the result of a hastily launched process in response to pressure from some activist shareholders” and that a statement to shareholders recommending the merger omits information important on conflicts of interest.
Activist investors Bradley Radoff, Peter DeSorcy and DeSorcy’s hedge fund, Ortelius Advisors LP —…
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