Law Firm Brower Piven Announces Investigation Of WCA Waste Corporation

The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of WCA Waste Corporation (“WCA”) (Nasdaq: WCAA) and other violations of state law by the board of directors of WCA relating to the proposed acquisition of the company by Macquarie Infrastructure Partners II (“MIP II”). The firm's investigation seeks to determine, among other things, whether the board breached their fiduciary duties by failing to maximize shareholder value.

On December 21, 2011, WCA and MIP II announced that they entered into an agreement pursuant to which MIP II will acquire all outstanding shares of WCA for $6.50 per share in cash. According to the announcement, MIP II will redeem all Series A preferred stock and either partially or completely refinance WCA's existing credit facilities. The press release states the total transaction value is approximately $526 million. While the press release states that the purchase price represents a premium of 30% over WCA's closing stock price on December 20, 2011, the company's stock recently traded near the purchase price as recently as June 2011.

If you currently own shares of WCA 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 hoffman@browerpiven.com, 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.

Copyright Business Wire 2010

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