NEW YORK, April 1, 2015 /PRNewswire/ -- Pomerantz LLP
is investigating claims on behalf of investors of Norcraft
Companies, Inc. ("Norcraft" or the "Company") (NYSE: NCFT) (ISIN:
US65557Y1055) (CUSIP: 65557Y105) concerning the proposed
acquisition of Norcraft Companies, Inc. by Fortune Brands Home
& Security,
Inc.
Norcraft shareholders seeking more information about this
acquisition are advised to contact Robert
Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or
888-476-6529, ext. 237.
The investigation concerns whether the Norcraft directors are
breaching their fiduciary duties by failing to adequately shop the
Company and maximize shareholder value. Under the terms
of the proposed transaction, Fortune Brands will launch a tender
offer for all outstanding Norcraft shares on or before April 21, 2015, but in no event earlier than
April 14, 2015, at a price of
$25.50 per common share. The price
represents a premium of approximately 19.4% over Norcraft's volume
weighted average share price during the 60 days ended March 27, 2015. However, voting agreements
representing 53.6% of Norcraft's outstanding capital stock have
already been entered into by the Company.
Pomerantz LLP, with offices in New
York, Chicago, Florida, and San
Diego, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz LLP pioneered the field of securities class actions.
Today, more than 75 years later, the Pomerantz LLP continues in the
tradition he established, fighting for the rights of the victims of
securities fraud, breaches of fiduciary duty, and corporate
misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of defrauded investors. See
www.pomerantzlaw.com.
CONTACT:
Robert
Willoughby
Pomerantz LLP
212-661-1100 ext. 237
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP