Reissuing release to correct ticker symbol for searching purposes: Ticker should read (AMEX: CGC) sted (AMEX: CDC). Also, the acronym CDC should read CGC throughout the release.
The corrected release reads:
INVESTIGATION OF BUYOUT OF CAPITAL GOLD ON BEHALF OF CAPITAL GOLD SHAREHOLDERS BY TRIPP LEVY PLLC
Tripp Levy PLLC, a leading national securities law firm, announces an investigation into the proposed acquisition of Capital Gold Corp. (AMEX: CGC). On October 5, 2010, it was announced that CGC entered into an agreement to be acquired by Gammon Gold, Inc. (“Gammon Gold”) (NYSE:
). Under the terms of the transaction, each common share of Capital Gold will be exchanged for 0.5209 common shares of Gammon Gold and a cash payment in the amount of $0.79 per share. The total consideration for the purchase of 100% of the fully diluted in-the-money shares of Capital Gold is approximately $288 million or $4.57 per Capital Gold share based on Gammon Gold’s closing price on September 24, 2010.
The investigation concerns, among other things, whether the consideration to be paid to CGC shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of CGC. Indeed, analysts have projected that CGC’s true inherent value is in excess of $10 per share. The investigation further concerns whether the board of directors of CGC may have breached their fiduciary duties by not acting in CGC shareholders' best interests in connection with the sale process of CGC.
If you own CGC common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact
Tripp LevyTripp Levy PLLC125 East 82
FloorNew York, New YorkToll Free: 877-772-3975Email:
Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States.