ExpressJet XJT Shareholders File Class Action Lawsuit Complaint Against ExpressJet Holdings, Inc. Alleging SkyWest Merger Unfair To ExpressJet Shareholders.
A shareholder class action lawsuit has been filed against ExpressJet Holdings, Inc. (“ExpressJet” or “Defendant”) in Texas District Court, Harris County on behalf of shareholders of ExpressJet alleging that on or about August 4, 2010, ExpressJet and SkyWest (“SkyWest”) disclosed that they had entered into a definitive merger agreement under which SkyWest would acquire ExpressJet for $6.75 cash per share and that the proposed buyout of ExpressJet by SkyWest was unfair and inadequate with respect to price and process and designed to benefit ExpressJet’s insiders to the detriment of ExpressJet shareholders, according to class action lawsuit news reports.
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