Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the Board of Directors of Coleman Cable, Inc. (Nasdaq: CCIX) related to the acquisition by Southwire Company for shareholders. Under the terms of the definitive agreement valued at approximately $786 million, including the assumption of debt, Coleman Cable shareholders will only receive $26.25 in cash for each share of CCIX stock owned, well below at least one analyst’s estimated value of $28 per share. If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zach Groover at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at email@example.com. There is no cost or fee to you. The Coleman Cable investigation centers on whether Coleman Cable’s Board of Directors is acting in the shareholders’ best interests, whether the board is properly considering the proposed price for the shareholders, and whether the board has employed an adequate process to review and act on the proposed transaction. Notably, at least one analyst with Yahoo! Finance has estimated that the true inherent value of Coleman Cable may be as high as $28 per share. The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters. Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
Shares of Coleman Cable (Nasdaq:CCIX) were gapping down Tuesday morning with an open price 11.6% lower than Monday's closing price. The stock closed at $12.98 yesterday and opened today's trading at $11.47.