San Diego, CA -- (SBWIRE) -- 05/05/2022 -- An investor in shares of Huttig Building Products, Inc. (NASDAQ: HBP), filed a lawsuit against the takeover of Huttig Building Products, Inc. by Woodgrain Inc

Investors who purchased shares of Huttig Building Products, Inc. (NASDAQ: HBP) and currently hold any of those Huttig Building Products, Inc. (NASDAQ: HBP shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Saint Louis, MO based Huttig Building Products, Inc., together with its subsidiaries, distributes millwork, building materials, and wood products for new residential construction, in-home improvement, remodeling, and repair works in the United States. On March 21, 2022, Woodgrain Inc. and Huttig Building Products, Inc. (NASDAQ: HBP) announced that an agreement has been reached whereby Woodgrain will purchase Huttig. Under the terms of the tender offer, the Company's shareholders will receive $10.70 in cash for each share of Huttig common stock owned.

However, the plaintiff claims that the price is too low and that the defendants agreed to pre-deal agreements with other buyers that prevent them from making a superior offer.

Huttig Building Products, Inc. reported that its annual Total Revenue rose from $792,3 million in 2020 to $937.8 million in 2021, and that its Net Loss of $.09 million in 2020, turned into a Net Income of $47.56 million in 2021.

Those who are current investors in Huttig Building Products, Inc. (NASDAQ: HBP) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.