On March 13, Sunair Services Corpoiration filed suit in federal court against the dissident shareholder group for alleged violations of federal securities laws, including alleged unlawful solicitation of proxies and allegedly making false and misleading statements in the Information Statement filed with the SEC and omitting to state material facts.
The suit seeks injective relief to prevent the dissident shareholder group from voting any proxies obtained in the alleged unlawful solicitation, requiring corrective disclosure in the Information Statement filed by the dissident group and providing for a 90 day cooling off period before the dissident group can commence any further activity related to a change in control.