The Law Offices of Vincent Wong Announce an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Bucyru...
November 19 2010 - 1:16PM
Business Wire
The Law Offices of Vincent Wong are 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. (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. 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 Vincent Wong, Esq. either via email
vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/bucyrus-bucy.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights.
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