Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor LLP are investigating potential claims against the Board of
Directors of Metalico, Inc. (“Metalico”) (NYSE MKT: MEA) concerning the
sale to Total Merchant Limited. Under the terms of the agreement,
Metalico shareholders will only receive $0.60 in cash for each share
owned, which is less than the 52-week high and significantly lower than
at least one analyst’s estimated value of $1.00 per share.
If you are an affected investor, and you want to learn more about the
investigation or if you have information that you believe would be
helpful to our investigation of the fairness of the proposed
transaction, contact Willie Briscoe at The Briscoe Law Firm, PLLC via
email at shareholders@thebriscoelawfirm.com,
Patrick Powers at Powers Taylor LLP via e-mail at shareholder@powerstaylor.com
or by calling toll free at (877) 728-9607. There is no cost or fee to
you.
The investigation centers on whether Metalico’s Board of Directors is
acting in the shareholders’ best interests, whether the board considered
alternatives to the acquisition, and whether the board has employed an
adequate process to review and act on the proposed transaction. Notably,
at least one analyst with Yahoo! Finance believes the true inherent
value of the stock could be as high as $1.00.
The
Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Powers
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150617006034/en/
Copyright Business Wire 2015