Press release from PR Newswire
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Cooper Tire & Rubber Company - CTB
Wednesday, June 12, 2013
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Cooper Tire & Rubber Company - CTB11:48 EDT Wednesday, June 12, 2013
NEW YORK, June 12, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Cooper Tire & Rubber Company ("Cooper Tire" or the "Company") ( NYSE: CTB) (ISIN: US2168311072) (CUSIP: 216831107) concerning the proposed acquisition of Cooper Tire in a transaction valued at approximately $2.5 billion in cash.
The investigation concerns whether the Cooper Tire directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Cooper Tire shareholders will be entitled to receive $35.00 per share in cash for each share of Cooper Tire common stock. However, the price to EBITDA, Revenue, and Income multiples are below the average of comparable transactions, and may not reflect $80-$120 million in annual synergies.
Cooper Tire shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the following companies: Hilltop Community Bancorp, Inc., and Dole Food Company, Inc.
The Pomerantz Firm, 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 Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm 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 WilloughbyPomerantz Grossman Hufford Dahlstrom & Gross LLP212-661-1100 ext. email@example.com
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP