WASHINGTON, Sept. 16, 2009 (GLOBE NEWSWIRE) -- Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of MAXXAM Inc. ("MAXXAM" or the "Company") (AMEX:MXM) arising from the Company's announcement to effectuate a 1-for-250 reverse stock split of the Company's common stock and preferred stock, which would, in effect, allow MAXXAM to cease its reporting obligations and deregister its common stock with the SEC.
The investigation is focused on the potential unfairness of the proposed price offered to shareholders and of the process by which MAXXAM's Board of Directors is addressing the transaction. Among other things, although the Company's common stock traded at $15.45 as recently as January 2009, the transaction offers shareholders who own fewer than 250 shares of common stock just $10.77 in cash for each share of common stock and just $11.52 for each share of preferred stock they own.
If you are interested in discussing your rights as an MAXXAM shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at contact@finkelsteinthompson.com.
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