Tripp Levy PLLC, a leading national securities law firm, announces an investigation into the proposed acquisition of China Advanced Construction Materials Group, Inc. (Nasdaq: CADC) by its Chairman and CEO, Xianfu Han, and Weili He, Vice Chairman and COO, to acquire the remainder of the Company they do not already own for $2.65 per share in cash.
Mr. Han and Mr. He already own approximately 49.5% of the Company’s outstanding common stock.
The investigation concerns, among other things, whether the consideration to be paid to CADC shareholders is unfair, inadequate, and substantially below the fair or inherent value of CADC. Indeed, analysts estimate the stock is worth at least $5 per share. The investigation further concerns whether Mr. Han and Mr. He as well as the board of directors of CADC may have breached their fiduciary duties by not acting in CADC shareholders' best interests in connection with the sale process of CADC.
If you own CADC 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 Levy PLLC|
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|New York, New York|
|Toll Free: 877-772-3975|