Law Office Of Abe Shainberg Announces Investigation Of Possible Breach Of Fiduciary Duty By The Board Of AmeriCredit Corp. - ACF
The Law Office of Abe Shainberg 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.
The investigation concerns 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. 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. In addition, the board agreed to a strict "no solicitation" provision and also agreed to pay a $150 million termination fee.
If you own common stock in Americredit and wish to obtain additional information, please contact Abe Shainberg, Esq. directly, via email at firstname.lastname@example.org, by telephone at 212.425.7268, or visit http://www.ashainberglaw.com/americredit.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various matters
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV