A group of Lowrance shareholders have purportedly
filed a class-action lawsuit in Oklahoma state court that seeks to prohibit the
announced sale of Lowrance Electronics Inc. to Simrad Yachting AS. Lowrance and
members of the company's board of directors have been named as defendants.
The lawsuit alleges that the Lowrance board breached its fiduciary duties by
entering into the acquisition agreement with Simrad and its subsidiary, and by
not making adequate disclosure in its SEC filings concerning the proposed
acquisition. In an announcement, Lowrance said the company and defendants
"believe the lawsuit is without merit and intend to vigorously defend against
it."Not sure what this may or may not mean for Lowrance.... Lowrance has been a long
time supporter of the Bass Federation, hopefully this remains the same.
Tuesday, February 07, 2006
The merger between Outdoor electronics company Lowrance & Simrad Yachting AS may not be so final. See Article Below from BassFan.com
Posted by Rich Lindgren at 7:14 PM