BALA CYNWYD, Pa., Jan. 7, 2014 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Pacer International, Inc. ("Pacer" or the "Company") (Nasdaq: PACR) relating to the proposed acquisition by XPO Logistics, Inc. ("XPO") (NYSE: XPO). Click here to learn more about the investigation http://brodsky-smith.com/699-pacr-pacer-international-inc.html, or call: 877-534-2590. There is no cost or obligation to you. Under the terms of the transaction, for each share of Pacer common stock they own, Pacer shareholders will receive $6.00 in cash and $3.00 of XPO common stock, subject to a price collar, for a total market value of $335 million. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Pacer for not acting in the Company's shareholders' best interests in connection with the sale process. The investigation seeks to determine if Pacer's Board of Directors failed to conduct an adequate auction process and as a result harmed Pacer shareholders by undervaluing their Company. For example, according to Yahoo! Finance, as recently as November 29, 2013, Pacer stock traded at $9.23 per share and at least one analyst has set a target price of $10.00 per share for Pacer. If you own shares of Pacer common 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 510, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, by visiting http://brodsky-smith.com/699-pacr-pacer-international-inc.html, or calling toll free 877-LEGAL-90. Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
Shares of Pacer International (Nasdaq:PACR) were gapping up Thursday morning with an open price 14.6% higher than Wednesday's closing price. The stock closed at $4.80 yesterday and opened today's trading at $5.50.