NEW YORK, June 16, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Metalico, Inc. ("Metalico" or the "Company") (NYSE: MEA) (ISIN: US5911761022) (CUSIP: 591176102) concerning the proposed acquisition of Metalico by Total Merchant Limited.
Metalico shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 9980.
The investigation concerns whether the Metalico directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed transaction, Metalico shareholders will receive $0.60 per share in cash for each share of Metalico common stock. However, the $0.60 per share offer price is below a recent analyst target price of $1.00 per share.
Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
CONTACT:
Robert Willoughby
Pomerantz LLP
212-661-1100 ext. 9980
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP
