Wesco Financial (AMEX:WSC)
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5 Years : From Feb 2012 to Feb 2017
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 [email protected]
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.