NEW YORK, May 19, 2015 /PRNewswire/ -- Juan E. Monteverde,
a partner at Faruqi & Faruqi, LLP, a leading national
securities firm headquartered in New York
City, is investigating the Board of Directors of MCG Capital
Corp. ("MCG Capital" or the "Company") (Nasdaq: MCGC) for potential
breaches of fiduciary duties in connection with the sale of the
Company to PennantPark Floating Rate Capital Ltd. ("PennantPark")
(Nasdaq: PFLT) for approximately $175
million in a cash and stock transaction. The Company's
stockholders will receive $4.521 in
PennantPark shares, as well as $0.226
in cash for each share of MCG Capital common stock they own. The
deal values each share of MCG Capital at around $4.75 for each share, which represents a premium
of about 15.8% to MCG Capital's April 28,
2015 closing price. Additionally, at least one analyst has
estimated a price of $4.20 for a
share of MCG Capital.
Click here for more information: www.faruqilaw.com/MCGC.
There is no cost or obligation to you.
The investigation focuses on whether MCG Capital's Board of
Directors breached their fiduciary duties to the Company's
stockholders by failing to conduct a fair sales process and whether
and by how much this proposed transaction undervalues the Company
to the detriment of MCG Capital's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The
firm is focused on providing exemplary legal services in complex
litigation in the areas of securities, shareholder, antitrust and
consumer litigation, throughout all phases of litigation. The
firm has an experienced trial team which has achieved significant
victories on behalf of the firm's clients. To keep track of the
latest securities litigation news, follow us on Twitter at
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If you own common stock in MCG Capital and wish to obtain
additional information and protect your investments free of charge,
please visit us at www.faruqilaw.com/MCGC or contact Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Contact:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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Faruqi, LLP (www.faruqilaw.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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