Notice is hereby given that a class action lawsuit has been commenced in the United States District Court for the Southern District of Florida on behalf of shareholders of the common stock of Sunair Services Corporation ("Sunair" or the "Company") (Amex: SNR) for violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act"), and Rule 14a-9 promulgated under Section 14(a) by the Securities and Exchange Commission ("SEC"), as well as Florida state common law claims for breach of fiduciary duties of candor, loyalty, good faith and due care, and for aiding and abetting those breaches of fiduciary duties, in connection the Company's Board of Director's (the "Individual Defendants") agreement to permit the acquisition of the Company by Massey Services, Inc. and Buyer Acquisition Company, Inc. (collectively "Massey") for $2.75 in cash for each share of Sunair common stock (the "Action").
If you own common stock of Sunair and wish to apply to serve as a lead plaintiff in the Action, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests in connection with the Action, please contact Aaron Brody, Esq. at Stull, Stull & Brody at 1-800-337-4983 or 1-212-687-7230, or by email to ssbny@aol.com. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
As alleged in the complaint, plaintiff asserts claims on behalf of shareholders of Sunair common stock (the "Class") for violations of defendants' duties of loyalty, good faith, and due care by, among other things, (i) failing to ensure that plaintiff and other Class members would obtain adequate, fair and maximum consideration in any transaction in which Sunair was acquired; and (ii) engineering the proposed acquisition to benefit themselves and/or Massey without regard for Sunair's public shareholders. Moreover, as further alleged in the complaint, defendant Massey aided and abetted the Individual Defendants' breaches of fiduciary duty. The complaint also alleges that the Individual Defendants have attempted to obtain shareholder approval of the proposed acquisition through materially incomplete and misleading disclosures contained in the Company's Solicitation/Recommendation Statement filed with the SEC on Form Schedule 14A on October 2, 2009.
Accordingly, the Action seeks to enjoin the proposed acquisition or, alternatively, to rescind the proposed acquisition in the event defendants are able to consummate and complete the acquisition, and to compel the Individual Defendants to properly exercise their fiduciary duties to Sunair's shareholders and require defendants to disseminate an accurate and complete Proxy that fully and fairly informs shareholders of all material information in a non-misleading manner. Plaintiff also seeks an Order directing Defendants to pay to plaintiff and the other members of the Class all damages caused to them and to account for all profits and any special benefits obtained as a result of the wrongful conduct alleged.
Stull, Stull & Brody has been retained by a shareholder of Sunair and has litigated many class actions for violations of securities laws on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody has offices in New York and Los Angeles. Additional information about Stull, Stull & Brody may be found at the firm's website, www.ssbny.com.
If you wish to discuss this matter or have any questions concerning this notice or your rights or interests with respect to this matter, please contact Aaron Brody, Esq. at Stull, Stull & Brody by calling 1-800-337-4983 or 1-212-687-7230, or by email to ssbny@aol.com or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017.
Contacts:
Stull, Stull & Brody
Aaron Brody, Esq.
1-800-337-4983 or
1-212-687-7230
ssbny@aol.com
