The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of TMS International Corp. (“TMS” or the “Company”) (NYSE: TMS) and other violations of state law by the board of directors of TMS relating to the proposed going private transaction of the Company by The Pritzker Organization, LLC. The firm’s investigation seeks to determine, among other things, whether the board of directors of TMS breached their fiduciary duties by failing to maximize shareholder value.
According to the press release announcing the proposed transaction, TMS shareholders will receive $17.50 per share in cash for each share of TMS common stock they own. According to Yahoo! Finance, the high analyst price target is $22.00 and the mean price target is $18.50 per TMS share.
According to the press release announcing the proposed transaction, Onex Corporation and certain of its affiliates, the holders of approximately 60% of the outstanding shares of TMS common stock, have already agreed to approve the merger and no additional stockholder action is required.
If you currently own common stock of TMS and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at
, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.