The Law Firm Of Weiss & Lurie Investigates Southwall Technologies Inc.
Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Southwall Technologies Inc. (NASDAQ: SWTX) arising from its proposed acquisition by Solutia Inc. (NYSE: SOA) for $13.60 per share in cash.
Under the agreement, Solutia will commence a tender offer for all outstanding shares of Southwall common stock no later than October 25, 2011. The transaction is expected to close in the fourth quarter of 2011, subject to customary conditions, including regulatory approvals and the tender of a majority of the outstanding shares of Southwall and receipt of stockholder approval, if necessary. Needham Funds affiliates, together with Dolphin Direct Equity Partners, L.P., which collectively hold 63% of the outstanding shares of Southwall common stock on an as-converted basis, have entered into agreements with Solutia pursuant to which they have agreed to support the transaction and tender their shares in the offer.
Weiss & Lurie is investigating whether Southwall’s Board acted in the best interests of its shareholders in approving the transaction. Notably, as recently as August 1, 2011, Southwall stock traded at a high of $13.98 per share.
If you own Southwall shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by email at email@example.com or by telephone at (888) 593-4771.Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/. Attorney Advertising. Past results do not guarantee a similar outcome.
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