Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Trunkbow International’s Proposed Sale to Comp...
December 10 2013 - 6:50PM
Business Wire
Shareholder Rights Law Firm Johnson & Weaver, LLP is
investigating whether members of the Board of Directors of Trunkbow
International Holdings Limited, Inc. (Nasdaq: TBOW) breached their
fiduciary duties in connection with the sale of the Company.
On December 10, 2013 Trunkbow announced that it has entered into
an Agreement and Plan of Merger with a business company wholly
owned by Dr. Wanchun Hou, Chairman of the Trunkbow Board of
Directors, and Mr. Qiang Li, Chief Executive. Under the terms of
this transaction, Trunkbow shareholders will receive $1.46 in cash
for each share of Trunkbow stock they own.
The investigation will determine whether Trunkbow’s directors,
Dr. Wanchun Hou and Qiang Li, breached their fiduciary duties to
stockholders by taking advantage of their positions and paying an
unfair price to Trunkbow shareholders. Jim Baker, lead analyst at
Johnson & Weaver, LLP, had this comment about the transaction:
“The price being offered seems inadequate because just last year
the stock was trading over 60% higher.”
If you are a shareholder of Trunkbow and believe 1) the
proposed buyout price is too low or 2) the deal favors the insiders
and not the shareholders or 3) you’re interested in learning more
about the investigation or your legal rights and remedies,
please contact lead analyst Jim Baker (jimb@johnsonandweaver.com)
at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized
shareholders’ rights law firm. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits. For more information about the firm and its
attorneys, please visit http://www.johnsonandweaver.com.
Johnson & Weaver, LLPJim Baker, 619-230-0063 Ext.
118jimb@johnsonandweaver.com
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