SOURCE: Law Offices Of Charles J. Piven, P.A.

February 08, 2006 19:05 ET

Law Offices Of Charles J. Piven Announces Class Action Against Lafarge North America Inc. -- LAF

BALTIMORE, MD -- (MARKET WIRE) -- February 8, 2006 --Notice is hereby given that Law Offices Of Charles J. Piven, P.A. has filed a securities class action in the Circuit Court of Baltimore City, Maryland on behalf of owners of the common stock of Lafarge North America Inc., ("Lafarge NA" or the "Company") (NYSE: LAF).

The Complaint alleges that Lafarge S.A. owns securities representing approximately 52% of Lafarge NA's outstanding equity securities and that Lafarge S.A. intends to make an offer to purchase all outstanding shares of common stock of Lafarge NA not owned by Lafarge S.A. or its affiliates, at a price of $75.00 per share.

The Complaint alleges that the price of $75.00 per share offered to the class members is unconscionable, unfair and grossly inadequate consideration and has been the object of manipulation because, among other things: (a) the intrinsic value of the stock of Lafarge NA is materially in excess of $75.00 per share, giving due consideration to the possibilities of growth and profitability of Lafarge NA in light of its business, earnings and earnings power, present and future; (b) the $75.00 per share price is inadequate and offers an inadequate premium to the public stockholders of Lafarge NA; and (c) the $75.00 per share price is not the result of arm's length negotiations but was fixed arbitrarily by Lafarge S.A. to "cap" the market price of Lafarge NA stock, as part of a plan for defendants to obtain complete ownership of Lafarge NA assets and business at the lowest possible price.

If you want to discuss your legal rights, you may e-mail or call Law Offices Of Charles J. Piven, P.A. who will, without obligation or cost to you, attempt to answer your questions. Charles J. Piven has been involved in securities litigation for approximately 20 years. You may contact Law Offices Of Charles J. Piven, P.A. at The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202, by email at piven@pivenlaw.com or by calling 410/332-0030.

Contact Information

  • CONTACT:
    Law Offices Of Charles J. Piven, P.A.,
    Baltimore, Maryland
    Charles J. Piven
    410/332-0030
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