Law Firm Brower Piven Announces Investigation of Pacer International, Inc. Proposed Buyout
January 06 2014 - 12:50PM
Business Wire
The securities litigation firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches
of fiduciary duty to current shareholders of Pacer International,
Inc. (“Pacer” or the “Company”) (NASDAQ: PACR) and other
violations of state law by the board of directors of Pacer relating
to the proposed buyout of the Company by XPO Logistics, Inc.
(“XPO”). The firm’s investigation seeks to determine, among other
things, whether the board of directors of Pacer breached their
fiduciary duties by failing to maximize shareholder value.
According to the press release announcing the proposed buyout,
for each share of Pacer common stock they own, Pacer shareholders
will receive $6.00 in cash and $3.00 of XPO common stock, subject
to a price collar. According to Yahoo! Finance, as recently as
November 29, 2013, Pacer common stock traded as high as $9.23 per
share and at least one analyst following Pacer has set a target
price of $10.00 per share.
If you currently own common stock of Pacer and would like to
learn more about the investigation being conducted by Brower Piven,
you may email or call Brower Piven, who will, without obligation or
cost to you, attempt to answer your questions. You may contact
Brower Piven by email at hoffman@browerpiven.com, by calling (410)
415-6616, or at Brower Piven, A Professional Corporation, 1925 Old
Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven
have combined experience litigating securities and other class
action cases of over 60 years.
Brower Piven, A Professional CorporationStevenson,
MarylandCharles J. Piven, 410-415-6616hoffman@browerpiven.com
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