NEW YORK, May 8, 2015 /PRNewswire/ -- The fairness of the
proposed repeat buyout of Quality Distribution, Inc. ("QLTY" or the
"Company") by private equity: currently, Apax Partners, is being
investigated by WeissLaw LLP, a national class action shareholder
rights law firm, for possible breaches of fiduciary duty and other
violations of law by the Company's Board of Directors. On
May 6, 2015, the Company announced a
definitive agreement for Apax to acquire QLTY for $800 million. Under the agreement, QLTY
shareholders will receive $16.00 in
cash for each QLTY share.
WeissLaw is investigating whether QLTY's Board acted to maximize
shareholder value prior to entering into the agreement. The
Company operates the largest chemical bulk logistics network in
North America, provides intermodal
tank container and depot services, and transport services to the
oil and gas industries. At least one analyst set a target
price of $18.00 per QLTY share, or
$2.00 above the offer price.
Given these facts and the Company's strong market position,
WeissLaw is investigating whether QLTY's Board is now acting in the
best interests of QLTY's public shareholders. If you own QLTY
shares and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin or Kelly Keenan by telephone at (888) 593-4771
or by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for defrauded
clients and obtained important corporate governance relief in many
of these cases. If you have information or would like legal
advice concerning possible corporate wrongdoing (including insider
trading, waste of corporate assets, accounting fraud, or materially
misleading information), consumer fraud (including false
advertising, defective products, or other deceptive business
practices), or anti-trust violations, please email us at
stockinfo@weisslawllp.com or fill out the form on our
website,
http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a
similar outcome.
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SOURCE WeissLaw LLP