A class action complaint has been filed to prevent the adidas-Reebok acquisition. Bryan Jennings, a shareholder of Reebok, filed the suit in Superior Court in Norfolk County in the Commonwealth of Massachusetts against Reebok and its directors challenging the Merger.

The complaint alleges that the Reebok directors breached their fiduciary duties in connection with the Merger, and claims that the Merger Consideration to be paid to Reebok’s shareholders in the Merger is “unfair and grossly inadequate” and that the defendants failed to sufficiently ascertain the true value of Reebok through open bidding or a market check mechanism. The complaint seeks, among other things, injunctive relief to enjoin the completion of the Merger, rescind the Merger Agreement and direct the defendants to sell or auction Reebok for the highest possible price, and damages, including reasonable attorneys’ and experts’ fees.

The lawsuit is in its preliminary stages. In an SEC Filing Reebok stated that it believes the lawsuit is without merit and intends to defend vigorously against it.