Law Firm Brower Piven Announces Class Action Lawsuit in Connection With Claims of Breaches of Fiduciary Duty by the Board of ...
October 24 2013 - 12:24PM
Business Wire
The securities litigation firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the Delaware Chancery Court on behalf of all public
stockholders of Edgen Group Inc. (“Edgen” or the “Company”)
(NYSE:EDG).
According to the complaint, under the terms of the proposed
transaction, Sumitomo Corporation (“Sumitomo”) would acquire the
outstanding common stock of Edgen for $12.00 per share in cash. The
complaint alleges that proposed transaction is the product of a
flawed process that resulted from a failure to maximize stockholder
value and it deprives Edgen’s public stockholders of the ability to
share in the Company’s future prospects. The complaint also alleges
that, in approving the proposed transaction, the Company’s board of
directors breached their fiduciary duties and that Sumitomo aided
and abetted the board’s breaches of their duties.
If you currently own common stock of Edgen and would like to
learn more about the investigation being conducted by Brower Piven,
you may email or call Brower Piven, who will, without obligation or
cost to you, attempt to answer your questions. You may contact
Brower Piven by email at hoffman@browerpiven.com, by calling (410)
415-6616, or at Brower Piven, A Professional Corporation, 1925 Old
Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven
have combined experience litigating securities and other class
action cases of over 60 years.
Brower Piven, A Professional CorporationStevenson,
MarylandCharles J. Piven, 410-415-6616hoffman@browerpiven.com
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