The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Cash Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of AmeriCredit Corp. (NYSE: ACF) relating to the proposed acquisition by General Motors Co. (“GM”).
The proposed buy-out agreement, which was announced on July 22, 2010, involves an all-cash transaction valued at approximately $3.5 billion in which GM will purchase all of the outstanding shares of AmeriCredit common stock for $24.50 per share. However, although the announced share price represents an approximate 25% premium over AmeriCredit’s closing stock price on July 21, 2010, AmeriCredit stock has traded as high at $26.49 in 2010. Further, analysts have projected that AmeriCredit’s stock value on a going forward basis may be at least $26.00 per share. The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of AmeriCredit for approving this transaction, whether the consideration to be received by AmeriCredit shareholders is fair, and whether AmeriCredit’s Board of Directors acted in the shareholders’ best interests.
If you currently own shares of AmeriCredit and would like additional information regarding this investigation, or if you have information regarding the allegations involving this transaction, please contact Patrick Powers at Cash Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
, or The Briscoe Law Firm at (214) 706-9314, or via email at
. There is no cost or fee to you.
The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Cash Powers Taylor, LLP is a boutique litigation firm handling complex commercial and business litigation matters, claims of investor and stockholder fraud, shareholder oppression, high-profile business disputes, shareholder derivative suits, and security class actions.