Levi & Korsinsky is investigating the Board of Directors of China Advanced Construction Materials Group, Inc. (“China ACM” or the “Company”) (NASDAQ: CADC) for possible breaches of fiduciary duty and other violations of state law in connection with a proposal from its Chairman and Chief Executive Officer, Mr. Xianfu Han, and Weili He, Vice Chairman and Chief Operating Officer, to purchase all outstanding shares of China ACM stock they do not currently own. Under the terms of the transaction, China ACM shareholders would receive $2.65 in cash per share of China ACM stock they own. Mr. Han and Mr. He currently own approximately 49.5% of the Company’s common stock.
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The investigation concerns, among other things, whether the consideration to be paid to China ACM shareholders is unfair, inadequate, and substantially below the fair or inherent value of China ACM. In particular, China ACM stock traded as high as $4.90 per share as recently as February 9, 2011. Furthermore, at least one analyst set a price target of $5.00 per share of China ACM stock.
If you own common stock in China ACM and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or
Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C. The firm has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.