MILWAUKEE, Jan. 10, 2014 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of American Pacific for possible breaches of fiduciary duty and other violations of state law in connection with the sale of American Pacific to HIG.
Click here to learn how to join the action: http://www.ademilaw.com/case/american-pacific or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
American Pacific's long-term financial outlook is very positive and yet American Pacific shareholders will receive only $46.50 for each share of American Pacific common stock. HIG is well aware of American Pacific's improving financial metrics and is purchasing American Pacific at a substantial discount. The merger agreement unreasonably limits prospective bids for American Pacific by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should American Pacific receive and accept a superior bid. American Pacific insiders, their affiliates and other majority shareholders own significant stock of American Pacific, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of American Pacific not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of American Pacific's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for American Pacific given its current financial condition and prospects.
If you own shares of American Pacific and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/american-pacific.
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