NEW YORK, May 26, 2016 /PRNewswire/ -- Milberg LLP is
investigating possible breaches of fiduciary duty and other
violations of law in connection with the proposed acquisition of
Mines Management, Inc. (NYSE MKT: MGN, TSX: MGT) ("Mines
Management") to Hecla Mining Company (NYSE:HL) ("Hecla").
On May 24, 2016, Mines Management
and Hecla announced a merger agreement with Hecla acquiring Mines
Management. In the proposed merger, each outstanding common
share of Mines Management will be exchanged for 0.2218 of a common
share of Hecla. This represents approximately $0.94 per share when based on the closing price
of Hecla stock on the last business day prior to the merger
announcement. However, the approximately $0.94 merger consideration is substantially below
at least one analyst target price of $4.00 per share.
Milberg LLP's investigation is focusing on the potential
unfairness of the consideration being provided to Mine Management's
stockholders and the process by which Mine Management's Board of
Directors considered and approved the proposed deal.
Concerned investors are invited to contact the Milberg attorneys
listed below to discuss the investigation, their rights, and/or
potential remedies.
Founded in 1965, Milberg LLP was one of the first law firms to
prosecute class actions in federal courts on behalf of investors
and consumers and has been representing investors and
consumers for more than four decades, and has recovered billions of
dollars on behalf of aggrieved stockholders and consumers in
complex class and derivative litigation nationwide. Milberg
LLP, with offices in Manhattan,
Los Angeles and Detroit, is widely recognized as a leader in
defending the rights of victims of corporate and other large-scale
wrongdoing, serving as lead counsel in federal and state courts
throughout the United States. For more information, please
visit the firm website at www.milberg.com.
Contacts:
Milberg LLP
Kent A. Bronson
kbronson@milberg.com
Joshua Keller
jkeller@milberg.com
(212) 594-5300
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SOURCE Milberg LLP