NEW YORK, Aug. 25, 2014 /PRNewswire/ -- Tripp Levy
PLLC, a leading national securities and shareholder rights law
firm, announces that it is investigating the acquisition of Schuff
International, Inc. (OTC: SHFK) ("Schuff" or the "Company") on
behalf of its shareholders. HC2 Holdings, Inc. ("HC2") announced
the commencement of a tender offer for all of the outstanding
shares of common stock of Schuff that it does not already own for
$31.50 per share. HC2 currently
owns 70% of the outstanding shares of common stock of Schuff.
The investigation concerns possible breaches of fiduciary duty
and other violations of state law by the Board of Directors of HC2
and Schuff for not acting in Schuff shareholders' best interests in
connection with the sale process of Schuff. The investigation
seeks to determine if there was an adequate auction process and if
HC2 is underpaying for Schuff shares. Indeed, Schuff recently
traded ABOVE the takeover offer ($32.11), and is barely above the company's book
value ($24.74). The
investigation also seeks to determine whether there were any
conflicts of interest on the part of the senior management of
Schuff and HC2 in selling the Company.
If you are a shareholder of Schuff and would like additional
information as to how the acquisition may affect your rights as a
shareholder, please call us at no cost at:
Tripp Levy PLLC
New York, New York
Toll free: 800-511-7037
International: 602-241-2841
Email: contact@tripplevy.com
www.tripplevy.com
Tripp Levy PLLC represents individual and institutional
shareholders and, along with its affiliates, has recovered billions
of dollars for shareholders in similar actions around the globe.
Tripp Levy PLLC is affiliated with the law firm Milberg LLP.
Attorney advertising. Prior results do not indicate a similar
outcome.
SOURCE Tripp Levy PLLC
