Newspaper article The Topeka Capital-Journal

Westar/Great Plains Merger Faces New Lawsuit

Newspaper article The Topeka Capital-Journal

Westar/Great Plains Merger Faces New Lawsuit

Article excerpt

The proposed merger of equals between Westar and Great Plains Energy faces another lawsuit that claims the companies withheld or misrepresented information necessary for shareholders to vote on the deal.

Great Plains Energy, Inc. shareholder Stephen Bushansky filed a suit last week in U.S. District Court for the Western District of Missouri. It's similar to one filed last month in Kansas by Westar shareholder David Pill.

Both class-action suits aim to stop shareholder votes and progress on the merger until information is shared. Bushansky's complaint claims Great Plains omitted or misrepresented information about the financial positions of the two companies in the $14 billion deal.

"The failure to adequately disclose such material information constitutes a violation of the above-referenced sections of the Exchange Act, as Great Plains stockholders need such information to cast a fully-informed vote in connection with the Proposed Transaction," the lawsuit says. …

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