|[February 06, 2013]
Metals USA Holdings Corp. Board of Directors Under Investigation for Potential Breaches of Fiduciary Duty by Glancy Binkow & Goldberg LLP
LOS ANGELES --(Business Wire)--
Glancy Binkow & Goldberg LLP announces that it is investigating
potential claims against the Board of Directors of Metals USA Holdings
Corp. ("Metals USA" or the "Company") (NYSE: MUSA) related to the
proposed acquisition of the Company by Reliance Steel & Aluminum Co. The
transaction is valued at approximately $766 million or $20.65 per share.
This investigation concerns whether the Board of Directors of Metals USA
breached their fiduciary duties to stockholders by failing to adequately
shop the Company before agreeing to enter into the proposed transaction,
and whether the Company has disclosed all material information to
shareholders aout the transaction. The Company has seen substantial
recent growth. Its share price has skyrocketed from $8.11 on October 3,
2011 to $18.59 on January 4, 2013. Further, at least one analyst has set
a target price for the Company's stock at $21.
If you are a shareholder of Metals USA, if you have information or would
like to learn
more about our investigation, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact Louis
Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East,
Suite 2100, Los Angeles, CA (News - Alert) 90067, by telephone at (310) 201-9150 or
Toll Free at (888) 773-9224 or by email to email@example.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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