Rigrodsky & Long, P.A. Investigates Trillium Capital LLC’s Proposal to Take Stream Global Services, Inc. Private for Shareh...
June 01 2011 - 2:03PM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of Stream Global
Services, Inc. (“Stream” or the “Company”) (NYSE Amex: SGS)
concerning possible breaches of fiduciary duty and other violations
of law related to the Company’s receipt of a proposal from Trillium
Capital LLC (“Trillium”), to acquire the Company in a “going
private” transaction for $4.65 per share in cash (the
“Proposal”).
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The investigation concerns whether Stream’s board of directors
is adequately shopping the Company and working to obtain the best
price possible for Stream’s shareholders.
The Proposal contemplates Trillium’s acquisition of all of the
outstanding shares of common stock of Stream for $4.65 per share in
cash. Trillium already owns approximately 4.6% of the Company’s
outstanding common stock. Moreover, among other things, the
Proposal also allows certain of the Company’s existing inside
investors - Ares Management, Providence Equity Partners and Ayala
Corporation or their affiliates (who currently own approximately
87% of Stream’s outstanding stock and control its board of
directors) - to convert their current ownership of Stream,
under certain conditions, to the privately held successor
company.
If you own the common stock of Stream and purchased your shares
before June 1, 2011, if you have information or would like to learn
more about these claims, or if you wish to discuss these matters or
have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Seth D.
Rigrodsky, Esquire or Noah R. Wortman, Case Development Director,
of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980,
Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail
to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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