|[December 20, 2013]
SHAREHOLDER ALERT: Investors in Coleman Cable, Inc. Are Encouraged to Contact Wolf Haldenstein
NEW YORK --(Business Wire)--
The law firm of Wolf Haldenstein Adler Freeman & Herz LLP announces that
it is investigating Coleman Cable, Inc. ("Coleman Cable" or the
"Company") (NASDAQ:CCIX) for potential breaches of fiduciary duties in
connection with the sale of the Company to Southwire Company
("Southwire"). Under the terms of the proposed transaction, Southwire
will acquire Coleman for $26.25 per share in cash by a tender offer. The
transaction values Coleman at approximately $786 million, including the
assumption of $294 million in net debt.
The investigation concerns whether the Coleman Cable Board of Directors
breached their fiduciary duties to stockholders by failing to adequately
assess all reasonable strategic alternatives before agreeing to enter
into this transaction. At least one analyst assigned a $28.00 per share
price target for the Company, prior to the announcement. Co-Chairmen of
he Board David Bistricer and Nachum Stein, as well as CEO Gary Yetman,
and certain trusts own over 50% of the Company's outstanding shares. In
addition, certain stockholders, including trusts for the benefit of
family members of Bistricer and Stein, and Nachum Stein, have each
entered into tender support agreements with Southwire.
Wolf Haldenstein has represented individual and institutional investors
for many years, serving as lead counsel in numerous cases in United
States federal and state courts. Please visit the Wolf Haldenstein
for more information about the firm. For further information on this
Please contact us if you are a stockholder of Coleman Cable securities
who purchased shares before December 20, 2013, and wish to discuss this
matter. There is no cost to stockholders.
Gregory M. Nespole, Esq.
Wolf Haldenstein Adler Freeman & Herz LLP
New York, New York 10016
Phone (News - Alert) Numbers:
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