Westway Group, Inc. (WWAY) is Investigated by Faruqi & Faruqi, LLP for Potential Breaches of Fiduciary Duties
January 17 2013 - 12:56PM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of Westway Group, Inc. (“Westway” or the “Company”)
(NASDAQ: WWAY) for potential breaches of fiduciary duties in
connection with their conduct related to the sale of the Company to
an affiliate of EQT Infrastructure II in an all-cash deal valued at
approximately $419 million. Under the terms of the proposed
transaction, Westway’s stockholders will receive $6.70 in cash for
each share of Westway common stock they own, while according to
Yahoo! Finance, at least one financial analyst has set a price
target of $7.00 for Westway. The proposed transaction is structured
as a tender offer and may be effectuated without a shareholder
vote.
Request more information now by clicking here:
www.faruqilaw.com/WWAY. There is no cost or
obligation to you.
The investigation focuses on whether Westway’s Board of
Directors breached their fiduciary duties to the Company’s
stockholders by failing to conduct an adequate and fair sales
process prior to agreeing to this proposed transaction, whether and
by how much this proposed transaction undervalues the Company to
the detriment of Westway’s shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, throughout all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in Westway and wish to obtain additional
information and protect your investments free of charge, please
visit us at www.faruqilaw.com/WWAY or contact Juan E. Monteverde,
Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone
at (877) 247-4292 or (212) 983-9330.
Contact:
Faruqi & Faruqi, LLP369 Lexington Avenue, 10th FloorNew
York, NY 10017Attn: Juan E. Monteverde,
Esq.jmonteverde@faruqilaw.comToll Free: (877) 247-4292Phone: (212)
983-9330
Attorney Advertising. (C) 2013 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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