The Law Office of Joseph Klein is Investigating Possible Breaches of Fiduciary Duty by the Board of Graham Packaging Company ...
22 April 2011 - 3:28AM
Business Wire
The Law Office of Joseph Klein is investigating the Board of
Directors of Graham Packaging Company Inc. (“Graham Packaging” or
the “Company”) (NYSE: GRM) for possible breaches of fiduciary duty
and other violations of state law in connection with the sale of
the Company to Silgan Holdings Inc. (Nasdaq: SLGN). Under the terms
of the transaction, Graham Packaging shareholders will receive
$4.75 in cash and 0.402 shares of Silgan common stock per Graham
Packaging share they own. The transaction values Graham packaging
stock at approximately $19.56 per share for a total transaction
value of approximately $4.1 billion, including the assumption of
debt.
The investigation concerns whether the Graham Packaging Board of
Directors breached their fiduciary duties to Graham Packaging
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Silgan Holdings Inc. is
underpaying for Graham Packaging shares, thus unlawfully harming
Graham Packaging stockholders. In particular, at least one analyst
set a price target of $22.00 per share.
If you own common stock in Graham Packaging and wish to obtain
additional information, please contact Joseph Klein, Esq. directly,
via email at jk@jkleinlawfirm.com, by telephone at 718-947-0005,
Toll Free: 877-STOK-180, or visit
http://www.jkleinlawfirm.com/graham-packaging-grm.html.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation. Attorney advertising. Prior
results do not guarantee similar outcomes.
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