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Robbins Geller Rudman & Dowd LLP Files Class Action Suit against Sembcorp Utilities Pte Ltd.

^{Published on 2010-06-08 16:20:15 - Market Wire}
 

SAN DIEGO--([ BUSINESS WIRE ])--Robbins Geller Rudman & Dowd LLP (aRobbins Gellera) ([ http://www.rgrdlaw.com/cases/sembcorp/ ]) today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of all persons who held shares of the common stock of Cascal N.V. (aCascala) (NYSE:HOO) on May 21, 2010, against Sembcorp Utilities Pte Ltd. (aSembcorpa) for violations of Section 14(e) of the Securities Exchange Act of 1934 (a1934 Acta) in connection with the tender offer by Sembcorp for Cascal (the aTender Offera).

If you wish to serve as lead plaintiff, 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, please contact plaintiffa™s counsel, Darren Robbins of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at [ djr@rgrdlaw.com ]. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at [ http://www.rgrdlaw.com/cases/sembcorp/ ]. 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.

The complaint alleges that Sembcorp failed to disclose material information in Tender Offer materials filed with the SEC and publicly disseminated in connection with the Tender Offer by Sembcorp for Cascal. Cascal invests in and operates water and wastewater systems.

According to the complaint, the Tender Offer materials were materially false and misleading because they included only a summary of one set of financial projections and failed to disclose, inter alia: (i) whether the asummarya of projections was relied on by Sembcorp and/or its financial advisor in developing the terms of its Tender Offer; (ii) whether the projections supported or did not support the Tender Offer consideration; (iii) whether the asummarya was supported or not supported by other company financial information made available to Sembcorp; and (iv) whether those projections were the sole projections provided to Sembcorp by Cascal, or whether later updated and/or additional projections were provided to Sembcorp. The complaint further alleges that the Tender Offer materials made numerous material omissions about the process leading up to the Tender Offer and misrepresented the practical effect of a court ruling in previous litigation regarding the Tender Offer.

Plaintiff seeks to recover damages on behalf of all holders of Cascal common stock on May 21, 2010 (the aClassa). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Robbins Geller, a 180-lawyer firm with offices in San Diego, San Francisco, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Robbins Geller Web site ([ http://www.rgrdlaw.com ]) has more information about the firm.