EDGEN GROUP INVESTOR ALERT: Faruqi & Faruqi, LLP Is Examining Claims Regarding Breaches of Fiduciary Duty by the Board of Edgen Group Inc. (EDG) in Connection With the Sale of Company to Sumitomo Corporation -- EDG
(GlobeNewswire Via Acquire Media NewsEdge) NEW YORK, Oct. 22, 2013 (GLOBE NEWSWIRE) -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is reviewing claims against the Board of Directors of Edgen Group Inc. ("Edgen" or the "Company") (NYSE:EDG) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Japan's Sumitomo Corporation in a cash deal valued at approximately $520 million. Under the terms of the proposed transaction, Edgen's stockholders will receive $12.00 for each share of Edgen common stock they own. Meanwhile, According to Yahoo! Finance, at least one analyst has set a price target of $15.00 for the Company. A complaint was filed in Louisiana District Court.
Request more information now by clicking here: www.faruqilaw.com/EDG. There is no cost or obligation to you.
The complaint focuses on whether Edgen's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Edgen'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.
If you own common stock in Edgen and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/EDG or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2013 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & 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.
CONTACT: Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
Source: Faruqi & Faruqi LLP
2013 GlobeNewswire, Inc.
[ Back To Technology News's Homepage ]