Two Harbors faces injunction suit alleging materially misleading proxy ahead of $12 cash merger vote
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Two Harbors faces a lawsuit seeking to block its May 19 stockholder vote on a $12 cash merger with CrossCountry, alleging the proxy omitted material facts. Plaintiff George Assad claims violations of Sections 14(a) and 20(a), seeking an injunction for corrective disclosures and additional time for reconsideration. The allegations include management entrenchment and undisclosed termination fees. Two Harbors disputes the claims but disclosed the lawsuit to mitigate delays. Court hearings are scheduled for May 15 and May 18.
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