ATC Technology Corp. Board Being Investigated by The Law Office of Vincent Wong Following Bid By GENCO Distribution System, I...
30 Luglio 2010 - 12:29AM
Business Wire
The Law Office of Vincent Wong is investigating the Board of
Directors of ATC Technology Corporation (NasdaqGS: ATAC) for
possible breaches of fiduciary duty and other violations of state
law in connection with their attempt to sell the Company to GENCO
Distribution System, Inc., ("GENCO"). Under the terms of the
transaction, ATC Technology shareholders will receive $25.00 in
cash for each ATC Technology share of common stock they own for a
total transaction value of approximately $513 million.
The investigation concerns whether the ATC Technology Board of
Directors breached their fiduciary duties to ATC Technology
stockholders by failing to adequately shop the Company before
entering into this transaction and whether GENCO is underpaying for
ATC Technology shares. The proposed price offers virtually no
premium over the $24.98 price the Company's shares traded at as
recently as March 10, 2010 and at least one analyst set a price
target for ATC Technology stock at $30.00 per share.
If you own common stock in ATC Technology and wish to obtain
additional information about this investigation and what is being
done to advance the shareholders’ interests, please contact Vincent
Wong, Esq. directly, via email at vw@wongesq.com, by telephone at
212.584.2740, or visit http://wongesq.com/atc-technology.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights.
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