Sterling Chemicals, Inc. Merger Litigation (OTC: SCHI.ob)
Law Office of Brodsky & Smith, LLC Announces Investigation of Sterling Chemicals, Inc
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Sterling Chemicals, Inc. (“Sterling Chemicals” or the “Company”) (OTC – SCHI.ob - News) relating to the proposed acquisition by Eastman Chemical Company. (“Eastman”).
Under the terms of the transaction, Sterling Chemicals shareholders would receive $2.50 in cash for each share of Sterling Chemicals stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Sterling Chemicals by not acting in Sterling Chemicals shareholders' best interests in connection with the sale process to Eastman. The transaction may undervalue Sterling Chemicals as Sterling Chemicals stock traded at $3.50 as recently as April 1, 2011 and traded at $10.50 on August 3, 2010.
If you own shares of Sterling Chemicals stock and wish to discuss the legal ramifications of the proposed transaction, 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 firstname.lastname@example.org, or by calling toll free 877-LEGAL-90.
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