South Malaysia Industries (KLSE:SMI) was sued by Mah Sau Cheong over allegedly manipulating stock prices to facilitate the mandatory takeover, a Tuesday Malaysian bourse filing said.
According to the plaintiff, the takeover offer was priced at 0.45 per share, whereas it should be between 1.06 ringgit to 1.50 ringgit per share.
Shares of the property manager slid 1% recently.
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