WILMINGTON, Del., Sept. 06, 2016 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Accuride Corporation (“Accuride” or the “Company”) relating to the sale of the Company to affiliates of private investment firm Crestview Partners (“Crestview”). On September 2, 2016, the two parties announced the signing of a definitive merger agreement pursuant to which Crestview will acquire Accuride in a merger worth $124 million. As a result of the merger, Accuride shareholders are only anticipated to receive $2.58 per share in cash in exchange for each share of Accuride.
Our investigation is looking into whether Accuride’s top executives were conflicted and acted in their own self-interest when approving the merger. According to the Company’s September 2nd announcement, Accuride’s senior management will continue their employment post-merger: “President and CEO Rick Dauch and the members of the Accuride Leadership Team will continue to lead the business after the transaction closes.” Additionally, we are looking into the suspicious timing of Accuride’s recently announced agreement to sell its Brillion Iron Works subsidiary to a subsidiary of Metaldyne Performance Group Inc.
If you own shares of Accuride and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/accuride-class-action-investigation or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.