Law Offices of Howard G. Smith Announces Investigation of Stream Global Services, Inc.
June 01 2011 - 9:30PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Stream Global Services, Inc. (“Stream Global” or the “Company”)
(NYSE/AMEX:SGS) related to the proposed acquisition of the Company
by Trillium Capital LLC (“Trillium”) in a proposed going-private
transaction.
Under the terms of the proposal, Stream Global shareholders
would receive $4.65 in cash for each share they own of the
Company’s stock. In addition, Trillium would assume or replace
Stream Global’s $200 million high yield bonds due 2014. Trillium
currently owns approximately 4.6% of Stream Global’s outstanding
common stock. The proposed transaction also allows for certain of
the existing inside investors of Stream Global – Ares Management,
Providence Equity Partners and Ayala Corp or their affiliates – who
own approximately 87% of Stream Global’s outstanding common shares,
to convert their current ownership to the privately held successor
company. The investigation concerns possible breaches of fiduciary
duty and other violations of law related to the Stream Global board
of directors’ process for evaluation of the proposed
transaction.
If you are a shareholder of Stream Global, 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 Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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