The Law Office of Joseph Klein is Investigating into the Possible Breaches of Fiduciary Duty by the Board of American Commerc...
26 Octubre 2010 - 10:28AM
Business Wire
The Law Office of Joseph Klein is investigating the Board of
Directors of American Commercial Lines Inc. (NasdaqGS: ACLI) for
possible breaches of fiduciary duty and other violations of state
law in connection with their attempt to sell the Company to an
affiliate of Platinum Equity for approximately $777 million. Under
the terms of the transaction, ACLI stockholders, other than GVI
Holdings, Inc. and certain of its affiliates, will receive $33.00
in cash for each share of ACLI common stock they hold. GVI will
receive $31.25 in cash for each share of ACLI common stock it holds
if the transaction closes before December 31, 2010 and $33.00 per
share thereafter.
The investigation concerns whether the ACLI Board of Directors
breached their fiduciary duties to ACLI stockholders by failing to
adequately shop the Company before entering into this transaction
and whether Platinum Equity is underpaying for ACLI shares. ACLI
stock has traded as high as $33.40 per share as recently as October
13, 2010.
If you own common stock in ACLI and wish to obtain additional
information, please contact Joseph Klein, Esq. directly, via email
at jk@jkleinlawfirm.com, by telephone at 718-947-0005, Toll Free:
877-STOK-180, or visit
http://www.jkleinlawfirm.com/acl-acli.html.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation.
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