SHAREHOLDER ALERT: Pomerantz LLP Investigates Claims That the Merger May Not Be in the Best Interest of Investors of Norcraft Companies, Inc. - NCFT
NEW YORK, April 1, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Norcraft Companies, Inc. ("Norcraft" or the "Company") (NYSE: NCFT) (ISIN: US65557Y1055) (CUSIP: 65557Y105) concerning the proposed acquisition of Norcraft Companies, Inc. by Fortune Brands Home & Security, Inc.
Norcraft shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at [email protected] or 212-661-1100 or 888-476-6529, ext. 237.
The investigation concerns whether the Norcraft directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed transaction, Fortune Brands will launch a tender offer for all outstanding Norcraft shares on or before April 21, 2015, but in no event earlier than April 14, 2015, at a price of $25.50 per common share. The price represents a premium of approximately 19.4% over Norcraft's volume weighted average share price during the 60 days ended March 27, 2015. However, voting agreements representing 53.6% of Norcraft's outstanding capital stock have already been entered into by the Company.
Pomerantz LLP, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
CONTACT:
Robert Willoughby
Pomerantz LLP
212-661-1100 ext. 237
[email protected]
SOURCE Pomerantz LLP
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