Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of ATC Technology Corporation
July 19 2010 - 9:30PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
ATC Technology Corporation (“ATC” or the “Company”) (NASDAQ:ATAC)
related to the Company’s agreement to be acquired by GENCO
Distribution System, Inc. (“GENCO”). The proposed cash transaction
is valued at approximately $513 million.
Under the terms of the definitive agreement and plan of merger
entered into by the parties, in the merger each outstanding share
of ATC will be converted into the right to receive $25.00 per share
in cash. Upon completion of the transaction, ATC will become a
wholly owned subsidiary of GENCO, and will no longer trade
publicly. The transaction is expected to close during the fourth
quarter of 2010. The investigation concerns possible breaches of
fiduciary duty and other violations of law related to approval of
the proposed transaction by ATC’s board of directors.
If you own shares of ATC, if you have information or would like
to learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070
Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone
at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
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