NEW YORK, Nov. 13, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that the firm has filed a lawsuit on behalf of shareholders of Schuff International, Inc. ("Schuff") (OTC:SHFK). The lawsuit challenges the merger of Schuff with and into HC2 Holdings, Inc., alleging that the deal undervalues Schuff stock, which has recently traded above the offer price of $31.50 per share. The complaint was filed in Delaware state court.
For more information, click here: http://zlk.9nl.com/schuff-international-shfk/.
On August 20, 2014, Schuff and its corporate parent and controlling shareholder HC2 Holdings, Inc. announced that HC2 would acquire all remaining shares of Schuff for $31.50 in cash per share. HC2 is run by Philip Falcone, an investor who was last year accused by the SEC of manipulating the stock market, and was banned from the securities industry for five years.
If you own shares of Schuff and wish to participate in the action or obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/schuff-international-shfk/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.