The Law Office of Abe Shainberg Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Bucyru...
November 16 2010 - 11:52AM
Business Wire
The Law Office of Abe Shainberg is investigating the Board of
Directors of Bucyrus International, Inc. (NasdaqGS: BUCY) for
possible breaches of fiduciary duty and other violations of state
law in connection with their attempt to sell the Company to
Caterpillar Inc. (“Caterpillar”) (NYSE: CAT). Under the terms of
the transaction, Bucyrus shareholders will receive $92.00 per share
in cash for each share they own for a total transaction value of
approximately $8.6 billion, including the assumption of debt.
The investigation concerns whether the Bucyrus Board of
Directors breached their fiduciary duties to Bucyrus stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Caterpillar is underpaying for Bucyrus
shares. Prior to the announcement of the transaction, at least one
analyst set a price target for Bucyrus Systems common stock at
$95.00.
If you own common stock in Bucyrus and wish to obtain additional
information, please contact Abe Shainberg, Esq. either via email at
as@ashainberglaw.com or by telephone at (212) 425-7286, or visit
http://www.ashainberglaw.com/bucyrus-bucy.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide.
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