Rigrodsky & Long, P.A. Files Class Action Lawsuit Against China Fire & Security Group, Inc.
27 Julio 2011 - 4:43PM
Business Wire
The law firm of Rigrodsky & Long, P.A. announces that it has
filed a class action lawsuit in the United States District Court
for the Southern District of Florida on behalf of the public
shareholders of China Fire & Security Group, Inc. (“China Fire”
or the “Company”) (Nasdaq: CFSG) against the Company and its Board
of Directors (the “Board” or “Individual Defendants”) for
violations of Sections 14(a) and 20(a) of the Securities and
Exchange Act of 1934 in connection with the proposed acquisition of
China Fire by affiliates of Bain Capital Partners, LLC (“Bain
Capital”) (the “Complaint”). The case is styled as Tessitore v.
China Fire & Security Group, Inc., C.A. No. 11-CV-61580-WPD
(S.D. Fla.).
Click here to learn more and view a copy of the Complaint:
http://www.rigrodskylong.com/news/ChinaFire-CFSG.
The Complaint arises out of a May 20, 2011 press release
announcing the Company had entered into a definitive merger
agreement with Bain Capital, pursuant to which China Fire
shareholders will receive $9.00 per share in cash for each share of
China Fire common stock they own or approximately $265.5 million in
the aggregate (the “Proposed Transaction”).
The Complaint alleges that certain of the defendants, in
connection with Proposed Transaction, breached or aided and abetted
the other defendants’ breaches of their fiduciary duties. In
addition, the Complaint further alleges, in an attempt to secure
shareholder approval of the Proposed Transaction, the defendants
filed a materially misleading Preliminary Proxy Statement with the
United States Securities and Exchange Commission in violation of
Sections 14(a) and 20(a) of the Securities Exchange Act of 1934.
The omitted and/or misrepresented information is believed to be
material in assisting China Fire shareholders in making an informed
decision whether or not to vote in favor of the Proposed
Transaction.
Plaintiff seeks injunctive relief on behalf of all China Fire
shareholders as of May 20, 2011 (the “Class”). The plaintiff is
represented by Rigrodsky & Long, P.A.
If you wish to serve as lead plaintiff, you must move the Court
no later than sixty days from today. A lead plaintiff is a
representative party acting on behalf of other class members in
directing the litigation.
If you wish to discuss this action or have any questions
concerning this notice or your rights or interests, please contact
Timothy J. MacFall, Esquire or Noah R. Wortman, Case Development
Director of Rigrodsky & Long, P.A., 919 North Market Street,
Suite 980 Wilmington, Delaware, 19801 at (888) 969-4242, by e-mail
to info@rigrodskylong.com, or via our website:
http://www.rigrodskylong.com/news/ChinaFire-CFSG.
In order to be appointed lead plaintiff, the Court must
determine that the class member’s claim is typical of the claims of
other class members, and that the class member will adequately
represent the class. Your ability to share in any recovery is not,
however, affected by the decision whether or not to serve as a lead
plaintiff. Any member of the proposed class may move the court to
serve as lead plaintiff through counsel of their choice, or may
choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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