The Law Firm of Levi & Korsinsky, LLP Announces Investigation of China Advanced Construction Materials Group, Inc.
28 July 2011 - 1:40AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
China Advanced Construction Materials Group, Inc. (“China ACM” or
the “Company”) (NASDAQ: CADC) for possible breaches of fiduciary
duty and other violations of state law in connection with a
proposal from its Chairman and Chief Executive Officer, Mr. Xianfu
Han, and Weili He, Vice Chairman and Chief Operating Officer, to
purchase all outstanding shares of China ACM stock they do not
currently own. Under the terms of the transaction, China ACM
shareholders would receive $2.65 in cash per share of China ACM
stock they own. Mr. Han and Mr. He currently own approximately
49.5% of the Company’s common stock.
Click here to learn how to join the action:
http://www.zlk.com/china-advanced-construction-cadc, or call:
877-363-5972.
The investigation concerns, among other things, whether the
consideration to be paid to China ACM shareholders is unfair,
inadequate, and substantially below the fair or inherent value of
China ACM. In particular, China ACM stock traded as high as $4.90
per share as recently as February 9, 2011. Furthermore, at least
one analyst set a price target of $5.00 per share of China ACM
stock.
If you own common stock in China ACM and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or http://www.zlk.com.
Levi & Korsinsky is a national firm with offices in New
York, California and Washington D.C. The firm has extensive
expertise in prosecuting investor securities litigation involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
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