The Law Office of Vincent Wong Announces Investigation of Possible Breach of Fiduciary Duty by the Board of ExpressJet Holdin...
August 04 2010 - 2:14PM
Business Wire
The Law Office of Vincent Wong is investigating the Board of
Directors of ExpressJet Holdings Inc. (NYSE: XJT) for possible
breaches of fiduciary duty and other violations of state law in
connection with their attempt to sell the Company to SkyWest Inc.
(NasdaqGS: SKYW). Under the terms of the deal, ExpressJet
shareholders will receive $6.75 in cash for each share they own for
a total transaction value of approximately $133 million.
The investigation concerns whether the ExpressJet Board of
Directors breached their fiduciary duties to ExpressJet
stockholders by failing to adequately shop the Company before
entering into this transaction and whether SkyWest in underpaying
for ExpressJet. At least one analyst set a price target for
ExpressJet stock at $8.00 per share and the Company reported a book
value of $11.18 per share.
If you own common stock in ExpressJet and wish to obtain
additional information about this investigation and what is being
done to advance the shareholders’ interests, please contact Vincent
Wong, Esq. directly, via email at vw@wongesq.com, by telephone at
212.584.2740, or visit
http://www.wongesq.com/expressjet-holdings.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights.
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