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Robbins Geller Rudman & Dowd LLP Reports Release of Cascal N.V. Projected Financial Information in Connection with Shareholder

^{Published on 2010-06-21 16:58:59 - Market Wire}
 

SAN DIEGO--([ BUSINESS WIRE ])--Robbins Geller Rudman & Dowd LLP (aRobbins Gellera) today reported that Sembcorp Utilities Pte Ltd. (aSembcorpa) has filed an amendment to its tender offer materials that contains information that is material to Cascal N.V. (aCascala) (NYSE:HOO) shareholders in making their decision whether to tender their shares to Sembcorp. Amendment #7 to Sembcorp's Schedule TO, filed June 21, 2010, attaches certain documents Sembcorp filed in the United States District Court for the Southern District of New York in connection with the litigation styled as Stevens v. Sembcorp Utilities PTE LTD, No. 10 CIV 4481, in opposition to the preliminary injunction papers filed by the plaintiff in the action.

Among other things, the documents contain an Exhibit 8 to the declaration of one of Sembcorp's attorneys, Anthony M. Candido, which is entitled "Project Atlantis November 2009." This document contains confidential financial and other information about Cascal that was provided to Sembcorp by Biwater, and which has not previously been made public.

The document contains detailed financial projections for all segments of Cascal's business, as well as a detailed discussion of those segments. The document is available on Cascal's EDGAR website, as Exhibit (A)(56) and Exhibit (D)(40) to Sembcorp's Amendment #7 to its tender offer materials ([ http://www.sec.gov/Archives/edgar/data/1404675/000119312510142649/dex99a56.htm ]).

After learning that this information would be released to shareholders, and that the tender offer would be extended, plaintiff agreed to temporarily withdraw his motion for preliminary injunction, while reserving his rights to re-file the motion pending review of these materials and further developments.

Shareholders are encouraged to review these materials carefully when deciding whether to tender their shares to Sembcorp. The plaintiff in the Stevens action is represented by Robbins Geller which has substantial experience in shareholder litigation.

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.