Lawsuit filed against directors of Martin Marietta

Brian Ethridge

July 15, 2014

martin-marietta-materials-inc-logoAn investor in shares of Martin Marietta Materials has filed a lawsuit against directors of the company. The investor alleges that there were breaches of fiduciary duties.

The lawsuit claims that material information in the prospectus that was filed in conjunction with the attempt to get approval from stockholders on the proposal to approve issuance of common stock to stockholder in connection with the merger agreement between Martin Marietta and Texas Industries.

In January the two companies announced a merger, which will allow Martin Marietta to acquire all outstanding shares of Texas Industries common stock in a tax-free, stock-for-stock transaction.

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