The following is the text of a press release issued by the law firm Goldfarb Branham LLP:
(DALLAS) — Goldfarb Branham LLP is investigating whether the Board of Directors of American Commercial Lines Inc. (NASDAQ:ACLI – News) breached its fiduciary duty by agreeing to sell the Company to Platinum Equity for $777 million.
ACLI stockholders will receive $33.00 per share in this buyout. Investors of the company are encouraged to contact the firm at 877-583-2855 or hlindley@goldfarbbranham.com to learn about their rights.
“The price of this merger appears grossly unfair because at least one analyst set a $50.00 per share price target and ACL stock has traded as high as $33.40 per share as recently as October 13, 2010,†said securities lawyer Hamilton Lindley. “Our proposed class action lawsuit seeks to maximize the value and the information for the ACLI investors, at no cost to the shareholder.â€
Goldfarb Branham LLP pursues claims nationwide for shareholders in unfair buyouts. Lawyers at the firm have significant experience representing shareholders in over 100 securities cases. If you have any information about this transaction or questions about your rights as an American Commercial Lines shareholder contact the firm at hlindley@goldfarbbranham.com or call 877-583-2855.
