SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of The Board of Directors of MCG Capital Corporation
May 12 2015 - 5:35AM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
MCG Capital Corporation ("MCG” or "the Company") (Nasdaq -MCGC) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to PennantPark
Floating Rate Capital Ltd. (“PennantPark”).
Click here to learn more about the investigation
http://brodsky-smith.com/925-mcgc-mcg-capital-corporation.html, or
call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, MCG shareholders will
receive only shares of PennantPark stock valued at $4.521 and
$0.226 in cash for each share of MCG they own. Additionally, each
MCG shareholder could receive an additional $0.25 per share. The
transaction values MCG at $4.75 per share. The investigation
concerns whether the Board of MCG breached their fiduciary duties
to shareholders by failing to adequately shop the Company before
agreeing to enter into this transaction, and whether PennantPark is
underpaying for MCG. The transaction may both undervalue MCG and
would result in a loss or no real gain for many holders MCG stock.
For example, MCG stock previously traded at $5.49 per share on July
31, 2013 and traded at $4.75 per share on January 21, 2014.
If you own shares of MCG and wish to discuss the legal
ramifications of the investigation, or have any questions, you may
e-mail or call the law office of Brodsky & Smith, LLC who will,
without obligation or cost to you, attempt to answer your
questions. You may contact Jason L. Brodsky, Esquire or Evan J.
Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite
510, Bala Cynwyd, PA 19004, by visiting
http://brodsky-smith.com/925-mcgc-mcg-capital-corporation.html, or
calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive
expertise representing shareholders throughout the nation in
securities and class action lawsuits. The attorneys at Brodsky
& Smith have been appointed by numerous courts throughout the
country to serve as lead counsel in class actions and have
successfully recovered millions of dollars for our clients and
shareholders. Attorney advertising. Prior results do not guarantee
a similar outcome.
Brodsky & Smith, LLCJason L. Brodsky,
EsquireorEvan J. Smith,
Esquire877-LEGAL-90http://brodsky-smith.com/925-mcgc-mcg-capital-corporation.html
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