House & Home
Fri, February 11, 2011Thu, February 10, 2011Wed, February 9, 2011Tue, February 8, 2011Mon, February 7, 2011Sat, February 5, 2011Fri, February 4, 2011Thu, February 3, 2011Wed, February 2, 2011Tue, February 1, 2011Mon, January 31, 2011Sun, January 30, 2011Sat, January 29, 2011Fri, January 28, 2011Thu, January 27, 2011Wed, January 26, 2011Tue, January 25, 2011Mon, January 24, 2011Sun, January 23, 2011Fri, January 21, 2011Thu, January 20, 2011Wed, January 19, 2011Tue, January 18, 2011Mon, January 17, 2011Sun, January 16, 2011Fri, January 14, 2011Thu, January 13, 2011Wed, January 12, 2011Tue, January 11, 2011Mon, January 10, 2011Sat, January 8, 2011Fri, January 7, 2011Thu, January 6, 2011Wed, January 5, 2011Tue, January 4, 2011Mon, January 3, 2011Thu, December 30, 2010Wed, December 29, 2010Tue, December 28, 2010Mon, December 27, 2010Thu, December 23, 2010Wed, December 22, 2010Tue, December 21, 2010Mon, December 20, 2010Sat, December 18, 2010Fri, December 17, 2010Thu, December 16, 2010Smurfit-Stone Container Corporation Shareholder Investigation by Briscoe Law Firm Concerning Acquisition by RockTenn Company
//house-home.news-articles.net/content/2011/01/2 .. -concerning-acquisition-by-rocktenn-company.html
Published in House and Home on Monday, January 24th 2011 at 7:35 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
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 securities litigation law firm of [ Powers Taylor LLP ] are investigating potential legal claims against the Board of Directors of Smurfit-Stone Container Corporation (aSmurfit-Stonea or aSSCCa) (NYSE: SSCC) related to the proposed buyout of Smurfit-Stone by RockTenn Company (aRockTenna) (NYSE: RKT). The investigation relates to the fairness of the proposed transaction to Smurfit-Stone shareholders, possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Smurfit-Stone for approving this transaction, and whether Smurfit-Stonea™s Board of Directors acted in the shareholdersa™ best interests.
"Based on the lack of an appreciable premium to shareholders, and other factors, we have concern whether the proposed acquisition is fair to Smurfit-Stone shareholders, and we want to ensure that the shareholders are receiving the maximum value for their stock"
The definitive merger agreement involves a 50% cash and 50% stock transaction valued at approximately $3.5 billion, which is expected to close in the second quarter of 2011. Under the proposed transaction, Smurfit-Stone shareholders will receive a cash payment of $17.50 and a fixed-ratio of 0.30605 shares of RockTenn stock for each share of Smurfit-Stone/SSCC common stock they hold. Following the acquisition, Smurfit-Stone will become a wholly owned subsidiary of RockTenn. In the 2 weeks prior to the announcement, Smurfit-Stone shares closed as high as $28 per share. aBased on the lack of an appreciable premium to shareholders, and other factors, we have concern whether the proposed acquisition is fair to Smurfit-Stone shareholders, and we want to ensure that the shareholders are receiving the maximum value for their stock,a said shareholder rights attorney Willie Briscoe.
If you currently own shares of Smurfit-Stone/SSCC 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 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.
