SHAREHOLDER ALERT: Brower Piven Announces Class Action Lawsuit in Connection With Claims of Breaches of Fiduciary Duty by the...
April 07 2014 - 4:19PM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the Southern
District of New York on behalf of all common stockholders of Giant
Interactive Group Inc. ("Giant" or the "Company") (NYSE:GA)
asserting claims that the members of the Company's board of
directors have breached fiduciary duties they owe to Giant
shareholders in connection with Giant's recent announcement that it
has entered into a definitive merger agreement to be acquired by
Giant Investment Limited and Giant Merger Limited (collectively,
"Buyout Group"). According to the complaint, under the terms of the
proposed transaction, Giant shareholders will receive $12.00 for
each share of Giant stock they own, and upon completion of the
transaction, Giant will be a wholly-owned subsidiary, which will
have effectively transformed the Company from a public entity to a
privately-held entity.
The claims asserted in the lawsuit concern whether the Company's
Board of Directors breached their fiduciary duties to stockholders
by failing to maximize shareholder value before agreeing to enter
into this transaction, and whether the Buyout Group is underpaying
for Giant shares.
If you currently own common stock of Giant and would like to
learn more about this lawsuit and your ability to participate as a
plaintiff, without cost or obligation to you, click here:
http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Attorneys at Brower Piven together have more than a
century of experience litigating securities and other class action
cases.
CONTACT: Brower Piven, A Professional Corporation,
1925 Old Valley Road, Stevenson, Maryland,
Charles J. Piven, 410-415-6616,
hoffman@browerpiven.com