SHAREHOLDER ALERT: Investors in Coleman Cable, Inc. Are Encouraged to Contact Wolf Haldenstein
December 20 2013 - 3:41PM
Business Wire
The law firm of Wolf Haldenstein Adler Freeman & Herz LLP
announces that it is investigating Coleman Cable, Inc. ("Coleman
Cable" or the "Company") (NASDAQ:CCIX) for potential breaches of
fiduciary duties in connection with the sale of the Company to
Southwire Company (“Southwire”). Under the terms of the proposed
transaction, Southwire will acquire Coleman for $26.25 per share in
cash by a tender offer. The transaction values Coleman at
approximately $786 million, including the assumption of $294
million in net debt.
The investigation concerns whether the Coleman Cable Board of
Directors breached their fiduciary duties to stockholders by
failing to adequately assess all reasonable strategic alternatives
before agreeing to enter into this transaction. At least one
analyst assigned a $28.00 per share price target for the Company,
prior to the announcement. Co-Chairmen of the Board David Bistricer
and Nachum Stein, as well as CEO Gary Yetman, and certain trusts
own over 50% of the Company’s outstanding shares. In addition,
certain stockholders, including trusts for the benefit of family
members of Bistricer and Stein, and Nachum Stein, have each entered
into tender support agreements with Southwire.
Wolf Haldenstein has represented individual and institutional
investors for many years, serving as lead counsel in numerous cases
in United States federal and state courts. Please visit the Wolf
Haldenstein website (http://www.whafh.com) for more information
about the firm. For further information on this matter: please
click here.
Please contact us if you are a stockholder of Coleman Cable
securities who purchased shares before December 20, 2013, and wish
to discuss this matter. There is no cost to stockholders.
Gregory M. Nespole, Esq.Wolf Haldenstein Adler Freeman &
Herz LLP270 Madison AvenueNew York, New York 10016
Phone Numbers:
(800) 575-0735(212) 545-4657(917) 515-6161
Attorney Advertising
Wolf Haldenstein Adler Freeman & Herz LLPGregory M. Nespole,
Esq.800-575-0735212-545-4657917-515-6161
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