Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Alloy, Inc.
June 25 2010 - 12:57PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Alloy, Inc. (“Alloy” or the “Company”) (NASDAQ:ALOY) related to the
Company’s agreement to be acquired by an investor group led by
ZelnickMedia. The proposed cash transaction is valued at
approximately $126.5 million.
Under the terms of the parties’ agreement, ZelnickMedia will pay
Alloy shareholders $9.80 in cash for each share of Alloy common
stock they own. Members of Alloy’s senior management will invest in
the transaction in conjunction with ZelnickMedia, and Alloy’s
senior management is expected to remain in place following the
completion of the transaction. The transaction is expected to close
in the fourth quarter of 2010. The investigation concerns possible
breaches of fiduciary duty and other violations of law related to
approval of the proposed transaction by Alloy’s board of
directors.
If you own shares of Alloy, Inc., if you have information or
would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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