A Huntsman shareholder sues Hexion Specialty Chemicals

Hexion hurt Huntsman investors when it did not publicly disclose its concerns about its proposed purchase of the chemical maker - this was the reason cited by a Huntsman Corp. shareholder who has has sued Hexion Specialty Chemicals. Share price of Huntsman soared in 2007, after Hexion, a unit of Apollo Capital Management, declared intentions to buy the chemical company for US$10.6 bln, including debt. Huntsman's financial soundness prompted by its not so sound results and the faltering US economy caused Hexion to doubts its purchase. Hexion filed a suit against Huntsman in June, seeking to limit its liability in the event the deal falls apart. With this step, shares tumbled 40%. The suit by the shareholder requests class-action status and also asks for monetary damages and expenses.
  More News  Post Your Comment
{{comment.Name}} made a post.




There are no comments to display. Be the first one to comment!


Name Required.


Email Id Required.

Email Id Not Valid.


Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.

Message Required.

Click to Change image  Refresh Captcha