Robbins Umeda LLP Is Investigating M & F Worldwide Corporation
June 14 2011 - 3:42PM
Business Wire
Robbins Umeda LLP, a shareholder rights litigation firm, is
interested in helping shareholders of M & F Worldwide
Corporation (NYSE: MFW). The firm has commenced an investigation
into possible breaches of fiduciary duty and other violations of
state law by members of the board of directors of MFW in connection
with the proposed merger of MFW with a subsidiary of MacAndrews
& Forbes Holdings Inc.
If you own stock in MFW and would like more information about
your shareholder rights, please contact Gregory E. Del Gaizo at
800-350-6003 or via the shareholder information form on our
website.
On June 13, 2011, MacAndrews & Forbes proposed a transaction
pursuant to which MFW would be merged with a subsidiary of
MacAndrews & Forbes, and all outstanding shares of common stock
of MFW not owned by MacAndrews & Forbes would be converted into
the right to receive $24.00 per share.
The investigation focuses on whether MFW's board is undertaking
a fair process to obtain maximum value and adequately compensate
its shareholders, particularly in light of the company's recent
trading price. In May 2011, the company's stock traded over the
offer price on multiple occasions, trading as high as $24.35, and
closing at $24.04 on May 5, 2011. Moreover, the relationship
between MFW and MacAndrews & Forbes calls into question the
terms of the proposed agreement. For example, MacAndrews &
Forbes holds 43% of MWF's outstanding stock. Further, since 2005,
MacAndrews & Forbes has provided the services of MWF's Chief
Executive Officer and Chief Financial Officer, as well as other
management, advisory, transactional, corporate financial, legal,
risk management, tax and accounting services at a rate of $10
million per year.
Robbins Umeda LLP represents individual and institutional
shareholders in derivative, direct, and class action lawsuits. The
firm's skilled litigation teams include former federal prosecutors,
former defense counsel from top multinational corporate law firms,
and career shareholder rights attorneys. Robbins Umeda LLP has
helped its clients realize more than $1 billion of value for
themselves and the companies in which they have invested. For more
information, please go to http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/m-f-worldwide-corp/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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