Law Firm Brower Piven Announces Investigation of Artio Global Investors Inc. Proposed Buyout
15 Febbraio 2013 - 4:46PM
Business Wire
The securities litigation firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches
of fiduciary duty to current shareholders of Artio Global Investors
Inc. (“Artio Global” or the “Company”) (NYSE: “ART”) and other
violations of state law by the board of directors of Artio Global
relating to the proposed acquisition of the Company by Aberdeen
Asset Management PLC. The firm’s investigation seeks to determine,
among other things, whether the board of directors of Artio Global
breached their fiduciary duties by failing to maximize shareholder
value.
According to the Company’s press release, shareholders will
receive $2.75 for each share of Artio Global common stock they own,
which represents a transaction value of approximately $175 million.
According to Yahoo! Finance, Artio Global shares were trading above
the deal price as recently as October 2012. According to Bloomberg,
revenue, total assets, and free cash flow multiples for the
proposed transaction are below those of comparable
transactions.
If you currently own common stock of Artio Global and would like
to learn more about the investigation being conducted by Brower
Piven, you may email or call Brower Piven, who will, without
obligation or cost to you, attempt to answer your questions. You
may contact Brower Piven by email at hoffman@browerpiven.com, by
calling (410) 415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating
securities and other class action cases of over 60 years.
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