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Kendall Law Group Announces Lawsuit on Behalf of Wesco Financial Corp. Shareholders

Date : 09/01/2010 @ 4:58PM
Source : Business Wire
Stock : Wesco Financial Corp. Common Stock (WSC)
Quote : 384.5  0.0 (0.00%) @ 2:05AM
Wesco Financial share price Chart

Kendall Law Group Announces Lawsuit on Behalf of Wesco Financial Corp. Shareholders

Wesco Financial (AMEX:WSC)
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Kendall Law Group, a national securities firm led by a former federal judge with attorneys that include a former U.S. Attorney, announces a lawsuit filed on behalf of Wesco Financial Corp. (AMEX:WSC) shareholders in connection to the proposed buyout by Berkshire Hathaway Inc. The purpose of the lawsuit is to determine whether Wesco and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. Wesco shareholders are urged to contact the Kendall Law Group for more information at 877-744-3728 or by email at skendall@kendalllawgroup.com.

On August 26, 2010, Berkshire Hathaway announced that it plans to buy the 19.9% stake it doesn't already own by paying an amount equal to Wesco's book value per share. Under the terms of the agreement, Wesco stockholders can choose to receive $353 in cash or Berkshire Class B shares, or a combination of the two for each share of Wesco stock held. Berkshire Hathaway currently owns 80.1% of Wesco. The complaint, filed on August 31, 2010, alleges that the consideration offered in the agreement to acquire Wesco is inadequate and unfair.

Kendall Law Group was founded by former federal judge Joe Kendall, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.



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