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The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of American Lorain Corporation In Connection With The Proposed Sale Of The Company To Its Chairman And CEO
Levi & Korsinsky is investigating the Board of Directors of American Lorain Corporation (“American Lorain” or the “Company”) (NYSE MKT: ALN) for possible breaches of fiduciary duty and other violations of state law in connection with the proposed sale of the Company to its Chairman, President, and Chief Executive Officer, Mr. Si Chen.
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Under the terms of the proposed transaction, American Lorain shareholders would receive $1.60 per share in cash. Mr. Chen currently owns an aggregate of more than 46% of the Company’s outstanding shares. The investigation concerns, among other things, whether the proposed consideration to be paid to American Lorain shareholders is unfair, inadequate, and substantially below the fair or inherent value of American Lorain, and whether Mr. Chen is taking advantage of his position as a controlling shareholder in order to purchase the Company at an unfair price. In particular, at least one analyst set a price target for American Lorain stock at $6.00 per share.
If you own common stock in American Lorain and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at
email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. 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 securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.