B/E Aerospace facing shareholder suit over sale to Rockwell Collins

A class-action lawsuit was recently filed against the board of B/E Aerospace, a Wellington-based maker of aircraft parts, over the company's sale to Rockwell Collins Inc., a New York law firm said in a news release.

New York law firm Monteverde & Associates, which is representing B/E Aerospace shareholders, filed the suit Dec. 30 in U.S. District Court for the Southern District of Florida.

At issue is the $62 per share price B/E Aerospace shareholders were promised in the transaction, made up of $34.10 in cash and $27.90 in Rockwell Collins common stock, according to the news release from Monteverde.

According to the complaint, the proxy statement/prospectus provides incomplete and misleading information about the company’s financials, in violation of Sections 14(a) and 20(a) of the Exchange Act.

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