Wesco Financial (AMEX:WSC)
Historical Stock Chart
3 Years : From May 2010 to May 2013
Faruqi & Faruqi, LLP, a leading national securities firm headquartered
in New York City, announces updated information relating to its
investigation into the Board of Directors of Wesco Financial Corporation
(“Wesco” or the “Company”) (AMEX: WSC) for potential breaches of
fiduciary duties in connection with the potential going private proposal
by Berkshire Hathaway Inc. (“Berkshire Hathaway”) (NYSE: BRK-A). On
September 1, 2010, Berkshire Hathaway, who currently owns or controls
approximately 80.1% of Wesco common stock, announced that it had offered
to acquire the remaining 19.9% of the shares of Wesco’s common stock
that it already does not own in exchange for shares of Berkshire
Hathaway Class B common stock and/or cash, at the election of the
shareholder. On October 7, 2010, Wesco’s special committee of its Board
of Directors retained Greenhill & Co., LLC as its independent financial
advisor and Skadden, Arps, Slate, Meagher & Flom LLP as its legal
advisor to evaluate the non-biding proposal of Berkshire Hathaway to
acquire the remaining shares of the Company’s common stock. The
information disseminated to the public indicates that the proposal by
Berkshire Hathaway is the only proposal that the special committee is
currently considering.
Request more information now by clicking here: www.faruqilaw.com/WSC
Whether the Wesco’s Board of Directors breached their fiduciary duties
to Wesco’s stockholders by failing to conduct an adequate and fair sales
process designed to maximize shareholder value, whether Wesco’s Board of
Directors is failing to explore and consider all strategic alternatives,
whether the Berkshire Hathaway offer undervalues Wesco’s shares and by
how much this proposed transaction undervalues the Company to the
detriment of Wesco shareholders are the key focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents investors
and individuals in class action litigation. The firm is focused on
providing exemplary legal services in complex litigation in the areas of
securities, shareholder, antitrust and consumer litigation, through all
phases of litigation. The firm has an experienced trial team which has
achieved significant victories on behalf of the firm’s clients.
If you own common stock in Wesco and wish to obtain additional
information, please visit us at www.faruqilaw.com/WSC
or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com
or by telephone at (877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2011 Faruqi & Faruqi, LLP. The law firm
responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with respect
to any future matter. We are happy to discuss your particular case.
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