Second Suit in 2 Days Seeks to Block WTG Vote on Proposed Sale to Maury

A second complaint in as many days in the Southern District of New York seeks to enjoin RF and microwave components supplier Wireless Telecom Group (WTG) from holding its planned Aug. 2 shareholder vote to ratify the company’s sale to Maury Microwave on grounds that WTG’s proxy statement for the special meeting is flawed in violation of Sections 14(a) and 20(a) of the Exchange Act (see 2307120067). The June 28 proxy statement, which recommends shareholders vote to approve the transaction, is “materially incomplete and misleading,” alleged shareholder Patrick Plumley’s complaint Thursday (docket 1:23-cv-06029). It’s “imperative that the material information omitted” from the proxy statement is disclosed to WTG shareholders “prior to the forthcoming stockholder vote so that they can properly exercise their corporate suffrage rights,” it said. If the transaction is consummated without the proper proxy statement, Plumley will seek damages resulting from the Exchange Act violations. it said. The company didn’t comment.