Koppers shareholders filed suit to block a...

Koppers shareholders filed suit to block a hostile takeover bid for Koppers Co. by British investor Brian Beazer and the New York investment bank Shearson Lehman Hutton Inc., a Pittsburgh-based law firm announced. The lawsuit alleges that Shearson violated securities laws by causing Koppers shares to be sold for less than fair value, Joe Katarincic of Kirkpatrick & Lockhart said. BNS Inc., a company which Shearson and Beazer own, has made a $60-per-share cash tender offer worth an estimated $1.7 billion for the Pittsburgh construction materials and chemicals company.