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House and Home 
Fri, April 15, 2011
Thu, April 14, 2011
The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Graham Packa
NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Graham Packaging Company Inc. (aGraham Packaginga or the aCompanya) (NYSE: GRM) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Silgan Holdings Inc. (Nasdaq: SLGN). Under the terms of the transaction, Graham Packaging shareholders will receive $4.75 in cash and 0.402 shares of Silgan common stock per Graham Packaging share they own. The transaction values Graham packaging stock at approximately $19.56 per share for a total transaction value of approximately $4.1 billion, including the assumption of debt.
The investigation concerns whether the Graham Packaging Board of Directors breached their fiduciary duties to Graham Packaging stockholders by failing to adequately shop the Company before entering into this transaction and whether Silgan Holdings Inc. is underpaying for Graham Packaging shares, thus unlawfully harming Graham Packaging stockholders. In particular, at least one analyst set a price target of $22.00 per share.
If you own common stock in Graham Packaging and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/graham-packaging-company.html ].
Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.