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Robotti & Company Sues Warburg Pincus and JLL Partners in Connection with Highly Dilutive Offer for Builders FirstSource, Inc.

Publication: PR Newswire
Publication Date: 24-SEP-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Complaint Alleges JLL Partners and Warburg Pincus LLC Seek Self-Enrichment at the Expense of Minority Shareholders

WILMINGTON, Del., Sept. 24 /PRNewswire/ -- Robotti & Company, LLC and its affiliates (the "Robotti Companies") have been appointed to lead an investor lawsuit filed in response to a recapitalization plan for Builders FirstSource, Inc. proposed by JLL Partners Equity IX, LP and Warburg Pincus Private Equity IX, L.P. The proposed plan by JLL and Warburg would dilute the interests of all shareholders by issuing over 95 million shares of new stock at just $2.00 per share, substantially devaluing the remaining outstanding shares of common stock held by public...

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