Law Office of Jonathan M. Stein, P.L. Investigates Possible Breach of Fiduciary Duty by the Board of American Commercial Line...
20 Octubre 2010 - 1:34PM
Business Wire
The Law Office of Jonathan M. Stein, P.L. is investigating the
Board of Directors of American Commercial Lines, Inc. ("ACL" or the
"Company") (Nasdaq: ACLI) for possible breaches of fiduciary duty
and other violations of state law in connection with their attempt
to complete a sale of the Company to an affiliate of Platinum
Equity. Under the terms of the proposed transaction, ACL
shareholders are to receive $33.00 in cash for each share they own,
for a total transaction value of approximately $777 million.
The investigation involves whether the Board of Directors of ACL
breached their fiduciary duties to ACL stockholders by failing to
adequately shop the Company before agreeing to enter into the
transaction and whether ACL has disclosed all material information
to shareholders about the proposed transaction. Specifically, ACL
stock recently traded above $33.00 per share, and according to
Yahoo Finance, one analyst has set a target price at $50.00 per
share.
If you own stock in ACL and wish to obtain additional
information about your rights, or if you have information regarding
the above investigation, please contact Jonathan M. Stein, Esq.
either via email at jstein@jonathansteinlaw.com or by telephone at
(561) 961-2244.
The Law Office of Jonathan M. Stein, P.L. represents
shareholders and consumers in complex litigation, including class
action and derivative litigation. More information about the firm
is available through its website, www.jonathansteinlaw.com, and
upon request from the firm. Jonathan M. Stein is the attorney
responsible for the content of this release.
Jonathan M. Stein, Esq.Law Office of Jonathan M. Stein, P.L.120
E. Palmetto Park Rd., Suite 420Boca Raton, FL 33432(561)
961-2244jstein@jonathansteinlaw.comwww.jonathansteinlaw.com
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