Stull, Stull & Brody Announces Investigation on Behalf of Shareholders of GenTek, Inc.
08 10월 2009 - 6:53AM
Business Wire
Attorney Advertising. Notice is hereby given that Stull, Stull
& Brody has commenced an investigation on behalf of
shareholders of GenTek, Inc. (“GenTek” or the “Company”) (Nasdaq:
GETI) for possible breaches of fiduciary duty and other violations
of state law in connection with an agreement by the Company’s Board
of Directors to sell all of the Company’s outstanding shares of
common stock to a wholly-owned subsidiary of American Securities
LLC at a price of $38 per share in cash.
If you own common stock of GenTek and wish to obtain additional
information about this matter, please contact Stull, Stull &
Brody at the toll-free number listed below. Stull, Stull &
Brody has litigated many class actions for violations of securities
laws and breaches of fiduciary duties on behalf of defrauded
investors over the past 40 years and has obtained court approval of
substantial settlements on numerous occasions.
The current investigation concerns the proposed price offered to
shareholders and the process by which GenTek’s Board of Directors
is addressing the proposed transaction. For the second quarter
2009, the Company reported a 152% improvement in operating profit,
as compared to the same prior-year period, as well as strong cash
flows that have resulted in $59.8 million in cash on hand at the
close of the most recent quarter. The focus of the investigation is
on whether the GenTek’s Board of Directors breached their fiduciary
duties to GenTek’s shareholders by agreeing to sell the Company at
an unfair price and by agreeing to a $10 million termination fee
that will all but ensure that no superior offer will be
forthcoming.
If you wish to discuss this matter or have any questions
concerning this notice or your rights or interests with respect to
this matter, please contact Aaron Brody, Esq. at Stull, Stull &
Brody by calling 1-800-337-4983 or 1-212-687-7230, or by email to
ssbny@aol.com or by writing to Stull, Stull & Brody, 6 East
45th Street, New York, NY 10017.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Gentek (NASDAQ:GETI)
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Gentek (NASDAQ:GETI)
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