Plaintiff Withdraws Lawsuit Objecting to Waste Industries Buyout

Date: February 6, 2008

Source: News Room

Waste Industries USA Inc. said that a plaintiff has filed a voluntarily dismissal, without prejudice, of a lawsuit against the company related to the proposed buyout of the firm. In a lawsuit filed on Dec. 19, the shareholder had alleged breach of fiduciary duties by Waste Industries and its five directors in their approval of the transaction and sought to stop the deal. Earlier that month, the company agreed to be acquired for about $544 million, or $38 a share by a private investor group led by Waste Industries founder and Chairman Lonnie C. Poole Jr., President and Chief Executive Jim W. Perry and financial partners Macquarie Infrastructure Partners and Goldman Sachs.


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