Wolf Haldenstein Investigating Alloy, Inc. Board
June 24 2010 - 1:52PM
Business Wire
Attorney Advertising. The law firm of Wolf Haldenstein Adler
Freeman & Herz LLP is investigating possible breaches of
fiduciary duty by the Board of Directors of Alloy, Inc. (“Alloy” or
the “Company”) (NASDAQ:ALOY) arising out of the proposed
acquisition of Alloy by ZelnickMedia.
On Thursday, June 24, 2010, ZelnickMedia and Alloy announced
that ZelnickMedia will acquire Alloy pursuant to an all cash tender
offer. Under the terms of the agreement, Alloy stockholders will
receive cash of $9.80 in exchange for each share of Alloy common
stock. Additionally, members of Alloy’s senior management will
invest in the transaction with ZelnickMedia. However, the Company
may not have adequately shopped itself before entering into this
transaction and, pursuant to this proposed transaction,
ZelnickMedia may be underpaying for Alloy, thus unlawfully harming
Alloy shareholders.
Wolf Haldenstein has been representing individual and
institutional investors for many years, serving as lead counsel in
numerous cases in U.S. federal and state courts. Please visit the
Wolf Haldenstein website (http://www.whafh.com) for more
information about the firm.
If you own Alloy common stock and you wish to discuss this
matter with us, or have any questions concerning your rights and
interests with regard to this matter, please contact:
Martin Restituyo or Derek Behnke Wolf Haldenstein Adler
Freeman & Herz LLP 270 Madison Avenue New York, New York 10016
Phone Numbers: (800) 575-0735 (212) 545-4600
Email: restituyo@whafh.com
Classmember@whafh.com
Website: http://www.whafh.com
Attorney Advertising. Prior Results Do Not Guarantee A Similar
Outcome.
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