Robbins Umeda LLP Announces an Investigation of the Tender Offer by SkyWest, Inc. to Acquire ExpressJet Holdings, Inc.
04 Agosto 2010 - 6:07PM
Business Wire
Robbins Umeda LLP has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by
members of the Board of Directors of ExpressJet Holdings, Inc.
("ExpressJet" or the "Company") (NYSE: XJT) in connection with
SkyWest, Inc.'s ("SkyWest") (NASDAQ: SKYW), intent to acquire all
outstanding common shares of ExpressJet. Under the terms of the
announced tender offer, ExpressJet shareholders will receive $6.75
per share in cash for each share of ExpressJet they own, if the
tender offer is completed. The transaction is expected to be
completed in the fourth quarter of 2010.
Robbins Umeda LLP's investigation concerns whether the Board of
Directors of ExpressJet undertook a fair process to obtain fair
consideration for all shareholders of ExpressJet. Specifically, our
investigation concerns whether the Company’s Board of Directors
breached their fiduciary duties to ExpressJet shareholders by
failing to adequately shop the Company before entering into the
transaction with SkyWest. As recently as June 9, 2010, at least one
analyst had set price targets for the Company at $8.00 per share.
Moreover, on April 25, 2008, ExpressJet stock traded as high as
$32.50.
If you are a shareholder of ExpressJet, plan to continue to hold
your shares, and would like more information about your rights as a
shareholder, please contact attorney Gregory E. Del Gaizo at
800-350-6003 or by e-mail at info@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please go to http://www.robbinsumeda.com.
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