Orbital Racks Up Another Securities Lawsuit in the Wake of Proposed Merger

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A stockholder has filed suit against Orbital ATK, Inc., its board of directors, Northrop Grumman Corporation, and Neptune Merger Sub, Inc. over claims that they filed a misleading proxy statement in connection with a proposed merger between Orbital and Northrop Grumman. The suit alleges that the defendants failed to fully disclose the details of the valuation analyses performed by Orbital’s financial advisor and the financial projections used in the analyses. Furthermore, the complaint argues that the proxy statement is missing information concerning the timing and nature of communications involving the board members’ future employment, which the plaintiff says is necessary to determine whether there was any conflict of interest.