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SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Files Class Action Suit Against CalAtlantic Group, Inc.

WILMINGTON, Del., Dec. 27, 2017 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:

Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the Eastern District of Virginia on behalf of holders of CalAtlantic Group, Inc. (“CalAtlantic”) (NYSE:CAA) common stock in connection with the proposed acquisition of CalAtlantic by Lennar Corporation and its affiliate (“Lennar”) announced on October 30, 2017 (the “Complaint”).  The Complaint, which alleges violations of the Securities Exchange Act of 1934 against CalAtlantic, its Board of Directors (the “Board”), and Lennar, is captioned The Vladimir Gusinsky Rev. Trust v. CalAtlantic Group, Inc., Case No. 1:17-cv-01395 (E.D. Va.).

/EIN News/ -- If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242, by e-mail at info@rl-legal.com, or at http://rigrodskylong.com/contact-us/

On October 29, 2017, CalAtlantic entered into an agreement and plan of merger (the “Merger Agreement”) with Lennar.  Pursuant to the terms of the Merger Agreement, shareholders of CalAtlantic will receive 0.885 shares of Class A common stock of Lennar or $48.26 in cash for each share of CalAtlantic they own (the “Proposed Transaction”).

Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a Form S-4 Registration Statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission.  The Complaint alleges that the Registration Statement omits material information with respect to, among other things, CalAtlantic’s and Lennar’s financial projections and potential conflicts of interest.  The Complaint seeks injunctive and equitable relief and damages on behalf of holders of CalAtlantic common stock.

If you wish to serve as lead plaintiff, you must move the Court no later than February 26, 2018.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities fraud, shareholder corporate, and shareholder derivative litigation on behalf of shareholders in state and federal courts throughout the United States.

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CONTACT:                                                                                             

Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242
(302) 295-5310
Fax: (302) 654-7530
info@rl-legal.com
http://www.rigrodskylong.com

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