WeissLaw LLP: Globe Specialty Metals, Inc. Acquisition By Grupo FerroAtlantica, S.A. May Not Be In The Best Interest of GSM Shareholders
NEW YORK, Feb. 26, 2015 /PRNewswire/ -- The fairness of the proposed acquisition of Globe Specialty Metals, Inc. ("GSM" or the "Company") by Grupo FerroAtlántica, S.A. ("FerroAtlántica") is the subject of an investigation by WeissLaw LLP, a national class action and shareholder rights law firm. The investigation focuses on possible breaches of fiduciary duty and other violations of law by the Board of Directors of GSM for agreeing to sell the Company to FerroAtlántica. On February 23, 2015, the Company announced a definitive merger agreement for FerroAtlántica to acquire GSM. The newly formed company will have a combined enterprise value of 3.1 billion.
WeissLaw is investigating whether GSM's Board acted to maximize shareholder value prior to entering into the agreement. Upon completion of the transaction, FerroAtlántica will own 57% of the newly formed company, leaving GSM shareholders with owning only 43%.
Given these facts, WeissLaw is investigating the Board's decision to sell GSM and whether GSM's shareholders will obtain their fair and proportionate share of the Company's continued success and future growth prospects. If you own GSM shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at [email protected].
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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WeissLaw LLP
Joshua Rubin
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SOURCE WeissLaw LLP
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