SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Quality Distribution, Inc. And Encourage...
May 11 2015 - 2:12PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Quality Distribution, Inc.
(“Quality Distribution” or the “Company”) (Nasdaq: QLTY) relating
to the proposed buyout of the Company by funds advised by Apax
Partners (“Apax”), a global private equity firm, in a transaction
valued at approximately $800 million.
Under the terms of the transaction, Quality Distribution
shareholders are anticipated to receive $16.00 in cash for each
share of Quality Distribution common stock held. The transaction
may undervalue Quality Distribution and may result in a substantial
loss for many shareholders. For example, according to Yahoo!
Finance, at least one Wall Street analyst has issued a price target
for Quality Distribution stock at $18.00 per share.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock.
If you currently own common stock of Quality Distribution and
believe that the proposed buyout price is too low, or you would
like to learn more about the investigation being conducted by
Brower Piven, please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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