Kahn Swick & Foti, LLC & Former Louisiana Attorney General Remind Investors With Large Financial Interests (Over $100,000) of...
December 27 2010 - 6:45PM
Business Wire
Kahn Swick & Foti, LLC ("KSF") and its partner, the former
Louisiana Attorney General Charles C. Foti, Jr. remind investors
that they have only until February 22, 2011, to file lead plaintiff
applications in a securities class action lawsuit in the United
States District Court for the Eastern District of Wisconsin on
behalf of all common shareholders of Bucyrus International, Inc.
("Bucyrus" or the "Company") (Nasdaq: BUCY) as of November 15,
2010, seeking to pursue remedies under Section 14(a) and 20(a) of
the Securities Exchange Act of 1934 (the “Exchange Act”) in
connection with the tender offer by Caterpillar Inc. for
Bucyrus.
What You May Do
If you were a Bucyrus shareholder and would like to discuss your
legal rights and how this case might affect you, you may, without
obligation or cost to you, e-mail or call KSF Managing Partner,
Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free 877-515-1850, or
via cell phone any time at 504-301-7900, or KSF Director of Client
Relations, Neil Rothstein, Esq. (neil.rothstein@ksfcounsel.com),
toll free at 877-694-9510, or via cell phone any time at
330-860-4092. If you wish to serve as a lead plaintiff in this
class action by overseeing lead counsel with the goal of obtaining
a fair and just resolution including the possibility of a
settlement, you must request this position by application to the
Court by February 22, 2011. Any member of the putative class may
move the Court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class
member. KSF encourages both institutional and individual purchasers
of Bucyrus to contact the firm. The ultimate resolution of any
securities class action is strengthened through the involvement of
aggrieved shareholders and lead plaintiffs who have large financial
interests. KSF also encourages anyone with information regarding
Bucyrus’s conduct during the period in question to contact the
firm, including whistleblowers, former employees, shareholders and
others.
About the Lawsuit
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by issuing materially false and
misleading statements concerning the proposed acquisition of
Bucyrus by Caterpillar, Inc., including a misleading Preliminary
Proxy that failed to disclose material information about the
proposed merger, including the unfair sales process for the
Company, certain conflicts of interest, unfair consideration of
$92.00 per share, and the actual intrinsic value of the Company.
The proposed merger is expected to close mid-2011.
About Kahn Swick & Foti,
LLC
KSF, whose partners include the Former Louisiana Attorney
General Charles C. Foti, Jr., is a law firm focused on securities
class action and shareholder derivative litigation with offices in
New York and Louisiana. KSF's lawyers have significant experience
litigating complex securities class actions nationwide on behalf of
both institutional and individual shareholders. Recent cases
include In re Virgin Mobile USA IPO
Litigation, 2:07-cv-05619-SDW-MCA (D. N.J.), Co-Lead Counsel,
$19.5 Million Settlement; In re BigBand Networks, Inc
Securities Litigation, 3:07-CV-05101-SBA (C.D.
Cal.), Co-Lead Counsel, $11 million settlement;
In re U.S. Auto Parts Networks, Inc. Securities
Litigation, 2:07-cv-02030-GW-JC (C.D. Cal.),Lead
Counsel, $10 million settlement. KSF is also federally
court-appointed Co-Lead Counsel in THE shareholder derivative cases
against AIG and Bank of America (Merrill Lynch merger) emanating
from their recent multi-billion dollar economic declines.
To learn more about KSF, you may
visit www.ksfcounsel.com.
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