Law Firm of Wohl & Fruchter Announces Investigation of M & F Worldwide Corp.
June 17 2011 - 9:56AM
Business Wire
The law firm of Wohl & Fruchter LLP has commenced an
investigation into the proposed acquisition by MacAndrews &
Forbes Holdings (“MacAndrews”) of all of the outstanding shares of
M & F Worldwide Corp (“MFW”) (NYSE: MFW) in a “going private”
transaction.
On June 13, 2011, MacAndrews issued a press release announcing a
proposal to acquire all of the outstanding shares of MFW that it
did not already own for $24.00/share in cash. The proposal is at a
discount to MFW’s 30-, 60- and 90-day trailing closing prices, and
appears timed to exploit the recent run-down in the company’s stock
price.
Through holding companies, MacAndrews already owns approximately
42.7% of the outstanding shares of MFW, and three of MacAndrews’
executives sit on MFW’s board of directors. Wohl & Fruchter’s
investigation concerns the fairness of MacAndrews’ proposal, the
causes of MFW’s stock price decline in the weeks leading up to the
proposal, and the adequacy of the procedures adopted by MFW to
respond to the proposal.
Additional information is available at http://www.wohlfruchter.com/cases/mfw.
Persons with relevant information, and MFW shareholders with
questions about this investigation, are invited to contact our
Firm.
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation
arising from fraud and other fiduciary breaches by corporate
managers, as well as other complex litigation matters. Please visit
our website, www.wohlfruchter.com, to learn more about our Firm, or
contact one of our partners.
This release may be deemed to constitute attorney
advertising.
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