FinishMaster, Inc. Merger Litigation (Pink Sheets: FMST.PK)
Law Office of Brodsky & Smith, LLC Announces Investigation of FinishMaster, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of FinishMaster, Inc. (“FinishMaster” or the “Company”) (Pink Sheets: FMST.PK– News) relating to the proposed acquisition by Uni-Select, Inc. (TSX:UNS.TO.to - News) (“Uni-Select”).
Under the terms of the offer, FinishMaster shareholders will receive cash of $21.00 for each share of FinishMaster stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law. As recently as December 1, 2010, at least one analyst put a price target of $25.00 on the stock. Additionally, the Company’s controlling shareholder, LDI, Ltd. (@75% of common stock) has entered into a voting agreement in support of the proposed acquisition. Thus, shareholders need additional information to know if the Board of Directors breached their fiduciary duties by failing to adequately shop the Company, which has resulted in Uni-Select underpaying for the company.
If you own shares of FinishMaster and wish to discuss the legal ramifications of the proposed acquisition, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com or by calling toll free 877-LEGAL-90.
To Join the FinishMaster, Inc. Litigation
-
Fill out this form
View Complaint
The complaint is unavailable at this time
Join Other Cases
Frequently Asked Questions