Kahn Swick & Foti, LLC ("KSF") and its partner, the former Louisiana Attorney General Charles C. Foti, Jr. remind investors that they have only until February 22, 2011, to file lead plaintiff applications in a securities class action lawsuit in the United States District Court for the Eastern District of Wisconsin on behalf of all common shareholders of Bucyrus International, Inc. ("Bucyrus" or the "Company") (Nasdaq: BUCY) as of November 15, 2010, seeking to pursue remedies under Section 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) in connection with the tender offer by Caterpillar Inc. for Bucyrus.
What You May Do
If you were a Bucyrus shareholder and would like to discuss your legal rights and how this case might affect you, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (
), toll free 877-515-1850, or via cell phone any time at 504-301-7900, or KSF Director of Client Relations, Neil Rothstein, Esq. (
), toll free at 877-694-9510, or via cell phone any time at 330-860-4092. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution including the possibility of a settlement, you must request this position by application to the Court by February 22, 2011. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. KSF encourages both institutional and individual purchasers of Bucyrus to contact the firm. The ultimate resolution of any securities class action is strengthened through the involvement of aggrieved shareholders and lead plaintiffs who have large financial interests.
KSF also encourages anyone with information regarding Bucyrus’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
About the Lawsuit
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by issuing materially false and misleading statements concerning the proposed acquisition of Bucyrus by Caterpillar, Inc., including a misleading Preliminary Proxy that failed to disclose material information about the proposed merger, including the unfair sales process for the Company, certain conflicts of interest, unfair consideration of $92.00 per share, and the actual intrinsic value of the Company. The proposed merger is expected to close mid-2011.