The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of Graham Pac...
April 15 2011 - 10:57AM
Business Wire
The Law Offices of Vincent Wong are investigating the Board of
Directors of Graham Packaging Company Inc. (“Graham Packaging” or
the “Company”) (NYSE: GRM) for possible breaches of fiduciary duty
and other violations of state law in connection with the sale of
the Company to Silgan Holdings Inc. (Nasdaq: SLGN). Under the terms
of the transaction, Graham Packaging shareholders will receive
$4.75 in cash and 0.402 shares of Silgan common stock per Graham
Packaging share they own. The transaction values Graham packaging
stock at approximately $19.56 per share for a total transaction
value of approximately $4.1 billion, including the assumption of
debt.
The investigation concerns whether the Graham Packaging Board of
Directors breached their fiduciary duties to Graham Packaging
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Silgan Holdings Inc. is
underpaying for Graham Packaging shares, thus unlawfully harming
Graham Packaging stockholders. In particular, at least one analyst
set a price target of $22.00 per share.
If you own common stock in Graham Packaging and wish to obtain
additional information, please contact Vincent Wong, Esq. either
via email vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/graham-packaging.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
CONTACT:Vincent Wong, Esq.39 East BroadwaySuite 304New York, NY
10002Tel. 212.584.2740Fax. 866.367.6510E-Mail: vw@wongesq.com
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