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FinishMaster Inc. Shareholder Investigation by Briscoe Law Firm Concerning Proposed Acquisition by a Subsidiary of Uni-Select,

^{Published on 2010-12-13 09:25:18 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of FinishMaster, Inc. (aFinishMastera or aFMSTa) (Pink Sheets: FMST) related to the proposed acquisition of FinishMaster by a subsidiary of Uni-Select, Inc. (TSX: UNX).

"Based on FinishMastera™s historic share prices, our concern over this transaction is whether FinishMaster shareholders are receiving maximum value for their shares and whether the companya™s Board of Directors fully disclosed the transaction details to the shareholders"

The definitive merger agreement, which was announced on December 9, 2010, involves a transaction valued at approximately $217 million. Under the proposed merger transaction, FinishMaster shareholders will receive a cash payment of $21.00 for each share of FinishMaster/FMST common stock they hold. Although the acquisition price reportedly represents a 32% premium over FinishMastera™s prior 30-day average trading price, FinishMaster shares traded as high as $19.75 per share as recently as September 2010. aBased on FinishMastera™s historic share prices, our concern over this transaction is whether FinishMaster shareholders are receiving maximum value for their shares and whether the companya™s Board of Directors fully disclosed the transaction details to the shareholders,a said shareholder rights attorney Willie Briscoe.

The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of FinishMaster, Inc. for approving this transaction and whether FinishMastera™s Board of Directors acted in the shareholdersa™ best interests.

If you currently own shares of FinishMaster/FMST and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC, toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.