Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Andatee China Marine Fuel Services Corporation. (“Andatee” or the “Company”) (Nasdaq: AMCF) relating to the proposed acquisition by its Chief Executive Officer and majority shareholder.
Under the terms of the proposal, Andatee shareholders would receive $4.21 in cash for each share Andatee stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Andatee for not acting in the Company’s shareholders' best interests in connection with the sale process with the Company’s majority shareholder. The transaction may undervalue Andatee as the Andatee stock traded at $5.20 as recently as February 17, 2011 and the proposed price is below an analyst price target of $7.00 per share.
If you own shares of Andatee stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at
http://brodsky-smith.com/363-amcf-andatee-china-fuel-services-corporation.html, or by calling toll free 877-LEGAL-90.