Levetown & Jenkins, LLP Announces an Investigation of the Acquisition of American Commercial Lines Inc. by an Affiliate of Pl...
18 Octubre 2010 - 8:21PM
Business Wire
Levetown & Jenkins, LLP is conducting an investigation into
alleged breaches of fiduciary duties and violations of state law by
American Commercial Lines Inc. (“ACLI”) (NASDAQ:ACLI) and its Board
of Directors in conjunction with the proposed buyout and
acquisition of ACLI by an affiliate of Platinum Equity. Under the
terms of a definitive merger agreement announced on October 18,
2010, ACLI shareholders other than GVI Holdings, Inc. will receive
$33.00 in cash for each share of ACLI common stock they hold. If
the transaction closes before the proposed closed date of December
31, 2010, GVI Holdings, Inc. will receive $31.25 in cash for each
share of ACLI common stock they hold. GVI Holdings, Inc. owns
approximately 25.26% of ACLI's outstanding common stock, and they
have entered into a Voting Agreement to support the proposed
acquisition. The transaction is valued at approximately $777
million.
The firm’s investigation concerns whether the proposed
acquisition properly values ACLI. Specifically, the investigation
seeks to determine whether the ACLI Board of Directors engaged in a
fair process to obtain adequate consideration for all of the
company's shareholders, whether the transaction undervalues the
company to the detriment of its shareholders and, if so, the extent
to which the company is undervalued in the proposed
transaction.
Levetown & Jenkins, LLP is a national law firm comprised of
former federal and state prosecutors with extensive experience in
the investigation and prosecution of shareholder fraud. The firm
specializes in the representation of investors in shareholder and
securities fraud class actions. If you currently own shares of ACLI
and wish to obtain additional information about your rights as a
shareholder, please contact Michael T. Harrison, Esq. at (713)
392-7465 or mharrison@levjen.com. For more information about the
firm, please visit www.levjen.com.
Attorney Advertising. (C) 2010 Levetown & Jenkins, LLP. The
law firm responsible for this advertisement is Levetown &
Jenkins, LLP (www.levjen.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter. We are
happy to discuss your particular case.
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