Kirby McInerney LLP is investigating potential claims against the Board of Directors of Coleman Cable, Inc. (“Coleman” or the “Company”) (NASDAQ:CCIX) concerning the proposed acquisition of the Company by Southwire Company (“Southwire”). Under the terms of the definitive merger agreement, Coleman stockholders will receive $26.25 in cash for each share of Coleman owned, valuing the transaction at approximately $492 million. The investigation concerns whether the Coleman Board of Directors violated its fiduciary duties by agreeing to the proposed transaction and whether the $26.25 per share proposed consideration adequately values Coleman’s common stock. If you are a Coleman stockholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, by telephone at (212) 699-1145 or (888) 529-4787, or by filling out this contact form. There is no cost or obligation to you. Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.
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.