ATC Technology Corp. Board Being Investigated by The Law Office of Joseph Klein Following Bid By GENCO Distribution System, I...
21 Julho 2010 - 5:23PM
Business Wire
The Law Office of Joseph Klein is investigating the Board of
Directors of ATC Technology Corporation (NasdaqGS: ATAC) for
possible breaches of fiduciary duty and other violations of state
law in connection with their attempt to sell the Company to GENCO
Distribution System, Inc., ("GENCO"). Under the terms of the
transaction, ATC Technology shareholders will receive $25.00 in
cash for each ATC Technology share of common stock they own for a
total transaction value of approximately $513 million.
The investigation concerns whether the ATC Technology Board of
Directors breached their fiduciary duties to ATC Technology
stockholders by failing to adequately shop the Company before
entering into this transaction and whether GENCO is underpaying for
ATC Technology shares. The proposed price offers virtually no
premium over the $24.98 price the Company's shares traded at as
recently as March 10, 2010 and at least one analyst set a price
target for ATC Technology stock at $30.00 per share.
If you own common stock in ATC Technology and wish to obtain
additional information about this investigation and what is being
done to advance the shareholders’ interests, please contact Joseph
Klein, Esq. directly, via email at jk@jkleinlawfirm.com, by
telephone at 718-947-0005, Toll Free: 877-STOK-180, or
http://www.jkleinlawfirm.com/atc-technology-atac.html. All
consultations are confidential and free of charge.
To share your views on the proposed merger transaction and to
see how other shareholders plan on voting, go to
http://buyoutorsellout.com/web/mergers/atc-technology.html.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation.
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