SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation Of Full Circle Capital Corporation Buyout
30 July 2016 - 1:27AM
Business Wire
Rigrodsky & Long, P.A.:
- Do you own shares of Full Circle
Capital Corporation (NASDAQ GM: FULL)?
- Did you purchase any of your shares
prior to June 24, 2016?
- Do you think the proposed buyout
value is too low?
- Do you want to discuss your
rights?
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of Full
Circle Capital Corporation (“Full Circle” or the “Company”) (NASDAQ
GM: FULL) regarding possible breaches of fiduciary duties and other
violations of law related to the Company’s entry into an agreement
to be acquired by Great Elm Capital Corp., a company formed by
Great Elm Capital Group, Inc. (“GEC”, formerly Unwired Planet,
Inc.) (NASDAQ GS: GEC) and funds managed by MAST Capital
Management, LLC (“MAST Capital”, collectively with GEC, the
“Consortium”).
Click here to learn more:
http://rigrodskylong.com/investigations/full-circle-capital-corporation-full.
Under the terms of the agreement, Full Circle stockholders are
expected to own approximately 38% of the combined Great Elm Capital
Corp., based on a pro-forma net asset value in excess of $190
million as of March 31, 2016.
The investigation concerns whether Full Circle’s board of
directors failed to adequately shop the Company and obtain the best
possible value for Full Circle shareholders before entering into an
agreement with the Consortium.
On July 28, 2016, Sims Capital Management LLC (“SCM”), owners
of approximately 4.9% of Full Circle’s outstanding shares, filed a
Schedule 13D with the United States Securities and Exchange
Commission. In its filing, SCM indicated that it had sent
three letters to Full Circle’s Board of Directors raising various
issues with respect to: (i) the convoluted structure and complexity
of the Proposed Merger, and (ii) raising specific issues with
respect to the quality and pricing of certain of the MAST Capital
assets proposed to be contributed to the Survivor in the Proposed
Merger, particularly the securities of Avanti Communications
PLC. In short, SCM believes that Full Circle shareholders
will be better served by turning down the Proposed Merger, and then
proceeding to liquidate the Company.
If you own the common stock of Full Circle and purchased your
shares before June 24, 2016, if you have information or would like
to learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2
Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at
(888) 969-4242; by e-mail to info@rl-legal.com, or at:
http://rigrodskylong.com/investigations/full-circle-capital-corporation-full.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly prosecutes securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in
states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20160729005616/en/
Rigrodsky & Long, P.A.Seth D. RigrodskyGina M.
Serra888-969-4242302-295-5310Fax:
302-654-7530info@rl-legal.comhttp://www.rigrodskylong.com
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