The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Waste Management, Inc. (NYSE: WM) who purchased redeemable senior notes between February 13, 2020 and June 23, 2020. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Waste Management lawsuit alleges that (i) the U.S. Department of Justice had indicated to WM that it would require Waste Management to divest significantly more assets than the $200 million indicated in the merger agreement between the Company and Advanced Disposal Services; (ii) as a result, the merger would not be completed by July 14, 2020, the end date under the merger agreement; and (iii) the WM redeemable senior notes would be subject to mandatory redemption at 101% of par.
Shareholders have until August 8, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.