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ATC Technology Corp. Board Being Investigated by The Law Office of Joseph Klein Following Bid By GENCO Distribution System, I...

Date : 07/21/2010 @ 4:23PM
Source : Business Wire
Stock : Atc Technology Corp. (MM) (ATAC)
Quote : 24.99  0.0 (0.00%) @ 2:05AM
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ATC Technology Corp. Board Being Investigated by The Law Office of Joseph Klein Following Bid By GENCO Distribution System, I...

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The Law Office of Joseph Klein is investigating the Board of Directors of ATC Technology Corporation (NasdaqGS: ATAC) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to GENCO Distribution System, Inc., ("GENCO"). Under the terms of the transaction, ATC Technology shareholders will receive $25.00 in cash for each ATC Technology share of common stock they own for a total transaction value of approximately $513 million.

The investigation concerns whether the ATC Technology Board of Directors breached their fiduciary duties to ATC Technology stockholders by failing to adequately shop the Company before entering into this transaction and whether GENCO is underpaying for ATC Technology shares. The proposed price offers virtually no premium over the $24.98 price the Company's shares traded at as recently as March 10, 2010 and at least one analyst set a price target for ATC Technology stock at $30.00 per share.

If you own common stock in ATC Technology and wish to obtain additional information about this investigation and what is being done to advance the shareholders’ interests, please contact Joseph Klein, Esq. directly, via email at jk@jkleinlawfirm.com, by telephone at 718-947-0005, Toll Free: 877-STOK-180, or http://www.jkleinlawfirm.com/atc-technology-atac.html. All consultations are confidential and free of charge.

To share your views on the proposed merger transaction and to see how other shareholders plan on voting, go to http://buyoutorsellout.com/web/mergers/atc-technology.html.

Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation.



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