Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Metals USA Holdings Corp. (“Metals USA” or the “Company”) (NYSE: MUSA) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Reliance Steel & Aluminum Co. (NYSE: RS) in an all-cash deal valued at approximately $766 million. Under the terms of the proposed transaction, Metals USA’s stockholders will receive $20.65 for each share of Metals USA common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $21 for Metals USA.
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The investigation focuses on whether Metals USA’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Metals USA’s shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients.If you own common stock in Metals USA and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/MUSA or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330. Attorney Advertising. (C) 2013 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.