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TheStreet Open House

The Law Office Of Vincent Wong Investigates Possible Breach Of Fiduciary Duty By The Board Of AmeriCredit Corp. - ACF

The Law Office of Vincent Wong is investigating the Board of Directors of AmeriCredit Corp. (“AmeriCredit” or the “Company”) (NYSE: ACF) for possible breaches of fiduciary duty and other violations of state law.

AmeriCredit announced that it had agreed to be acquired by General Motors Co. for $24.50 in cash per share. The transaction is expected to close by the end of the fourth quarter of 2010, pending certain closing conditions, including the approval of AmeriCredit shareholders.

The investigation concerns, among other things, whether the AmeriCredit Board of Directors breached their fiduciary duties to its stockholders by failing to adequately shop the Company before entering into this transaction and whether General Motors Co. is underpaying for AmeriCredit shares, thus unlawfully harming AmeriCredit stockholders. At least one analyst has a target price for AmeriCredit of $26.00 per share, and the stock has traded as high as $26.49 per share within the last year.

If you own common stock in AmeriCredit and wish to obtain additional information about this investigation and what is being done to advance the shareholders’ interests, please contact Vincent Wong, Esq. directly, via email at vw@wongesq.com, by telephone at 212.584.2740, or visit http://wongesq.com/americredit-gm.html.

Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights.



Copyright Business Wire 2010

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