Newman Ferrara LLP Announces Investigation of Artio Global Investors Inc.
15 Febbraio 2013 - 3:25PM
Business Wire
Newman Ferrara LLP has begun an investigation into potential
claims against the board of directors of Artio Global Investors
Inc. (“Artio Global”) (NYSE: ART) concerning the proposed
acquisition of Artio Global by asset management firm Aberdeen Asset
Management PLC (“Aberdeen”).
On February 14, 2013, Artio Global announced that it had entered
into an agreement and plan of merger to be acquired by Aberdeen,
under which Artio Global’s shareholders will receive only $2.75 in
cash for each share of Artio Global stock owned. However, Artio
Global common stock has traded at above the $2.75 per share offer
price as recently as October 5, 2012, when it traded at $2.81 per
share. The $2.75 per share offer price is also well below Artio
Global’s 52-week trading high of $5.26 per share. In fact, Artio
Global common stock has traded at above the $2.75 per share offer
price at all times from Artio Global’s initial public offering in
2009 to October 3, 2012.
Artio Global’s Board of Directors has unanimously approved the
proposed merger agreement and resolved to recommend that Artio
Global’s shareholders vote to approve the transaction, which is
expected to close by the end of the second quarter or early in the
third quarter of 2013.
Newman Ferrara LLP’s investigation concerns whether Artio
Global’s Board of Directors has breached its fiduciary duties to
act in the best interests of Artio Global’s shareholders and to
take all necessary steps to ensure that Artio Global’s shareholders
receive the maximum value readily available for their shares of
Artio Global common stock.
Concerned investors may contact Newman Ferrara attorney Roy
Shimon at (212) 619-5400 or rshimon@nfllp.com to discuss this
investigation, their rights, or potential remedies.
Newman Ferrara maintains a multifaceted practice based in New
York City with attorneys specializing in complex commercial and
multi-party litigation, securities fraud and shareholder
litigation, consumer protection, civil rights, and real estate. For
more information, please visit the firm website at
www.nfllp.com.
CONTACT:Newman Ferrara LLPAttorney:Roy Shimon1250 Broadway, 27th
Fl.New York, NY 10001rshimon@nfllp.comTel. 212.619.5400
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