BALA CYNWYD, Pa., Jan. 4, 2013 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Westway Group, Inc. ("Westway" or the "Company") (Nasdaq: WWAY) relating to the proposed acquisition by EQT Infrastructure II ("EQT"). Under the terms of the transaction, Westway shareholders will receive only $6.70 in cash for each share of Westway stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Westway for not acting in the Company's shareholders' best interests in connection with the sale process to EQT. The transaction may undervalue the Company and will not result in a gain for many shareholders. For example Westway stock traded at $6.90 as recently as September 14, 2012 and $6.95 on August 17, 2012. In addition, an analyst has set a price target for Westway stock at $7.00 per share. If you own shares of Westway stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org visiting http://brodsky-smith.com/522-wway-westway-group-inc.html, by calling toll free 877-LEGAL-90. SOURCE Brodsky & Smith, LLC
Shares of Westway Group (Nasdaq:WWAY) have taken a tremendous swing upward. The stock is trading at $5.41 as of 9:53 a.m. ET, 20.9% above Tuesday's closing price of $4.48. Volume is at 69,683, 8.3 times the daily average of 8,400.