The Law Office of Robbins Umeda LLP Announces an Investigation of the Acquisition of Smurfit-Stone Container Corp. by Rock-Te...
25 January 2011 - 7:39AM
Business Wire
Robbins Umeda LLP has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by
members of the board of directors of Smurfit-Stone Container
Corporation (NYSE: SSCC) in connection with their efforts to sell
the company to Rock-Tenn Company (NYSE: RKT). If the transaction is
completed, Smurfit-Stone shareholders will receive $17.50 in cash
and 0.30605 shares of Rock-Tenn for each share of Smurfit-Stone
common stock they hold. The transaction is expected to close in the
second quarter of 2011.
Robbins Umeda LLP's investigation concerns whether the
Smurfit-Stone board undertook a fair process to obtain fair
consideration for its shareholders. Specifically, the investigation
concerns whether members of the Smurfit-Stone board breached their
fiduciary duties to its shareholders by failing to adequately shop
the company before entering into the transaction with
Rock-Tenn.
If you are a shareholder of Smurfit-Stone, plan to continue to
hold your shares, and would like more information about your rights
as a shareholder, please contact attorney Gregory E. Del Gaizo at
800-350-6003 or by e-mail at info@robbinsumeda.com.
Robbins Umeda LLP represents individual and institutional
shareholders in derivative, direct, and class action lawsuits. The
law firm's skilled litigation teams include former federal
prosecutors, former defense counsel from top multinational
corporate law firms, and career shareholder rights lawyers. Robbins
Umeda LLP has helped its clients realize more than $1 billion of
value for themselves and the companies in which they have invested.
For more information, please go to http://www.robbinsumeda.com.
Attorney Advertising. Past results do not guarantee a similar
outcome. We invite you to contact us today to discuss your
case.
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