Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of TPC Group Inc. (“TPC” or the “Company”) (NASDAQ: TPCG) (ISIN: US89236Y1047) concerning the proposed acquisition of TPC by First Reserve Corporation and SK Capital Partners in a cash transaction valued at approximately $850 million.
The investigation concerns whether the TPC directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, TPC shareholders would receive $40.00 in cash per share of TPC common stock. However, TPC shares traded above $40.00 in the past week and at least one analyst has set a target price of $55.00 per share.
TPC shareholders seeking more information about this acquisition are advised to contact Rebecca Jarmon at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 314.
The Pomerantz Firm, with offices in New York, Chicago and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See