The Rosen Law Firm Announces Investigation of the Acquisition of Frozen Food Express by Duff Brothers Capital – FFEX
The Rosen Law Firm is investigating the Board of Directors of Frozen
Food Express, Inc. (NASDAQ: FFEX) for possible breaches of fiduciary
duty and other violations of state law in connection with its sale to
Duff Brothers Capital Corp.
If you would like to join the action please email or call Phillip Kim or
Kevin Chan, toll-free, at 866-767-3653; or email at pkim@rosenlegal.com
or kchan@rosenlegal.com. There
is no cost or obligation to you.
Under the terms of the proposal, offered by Duff Capital Brothers,
wholly owned by Thomas and James Duff who also indirectly own KLLM
Transport Services, LLC, shareholders will receive $2.10 for each share
of Frozen Food Express stock they own in a tender offer. In March, 2013,
the Duffs announced it had acquired approximately 5.84% of the
outstanding shares of common stock of Frozen Food Express. In connection
with this proposal, Frozen Food Express's Chairman of the Board, Stoney
M. Stubbs, Jr., President and CEO, Russell Stubbs, and Executive Vice
President and Chief Operating Officer, John Hickerson, who collectively
own approximately 12.8% of the outstanding shares of Frozen Food
Express, have each agreed to tender their shares of common stock into
the tender offer.
The investigation relates to whether the price of $2.10 per share is
fair to public shareholders and whether Frozen Food Express’s Board
breached its fiduciary duties in connection with the proposal.
If you own Frozen Food Express common stock and wish to obtain
additional information, you may contact Phillip Kim or Kevin Chan of The
Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com
or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and shareholder
derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Copyright Business Wire 2013