NEW YORK, Sept. 8, 2009 (GLOBE NEWSWIRE) -- Tripp Levy PLLC is investigating potential claims against Builders FirstSource, Inc. (Nasdaq:BLDR) related to the recapitalization plan proposed on September 1, 2009, by JLL Partners, Inc. and Warburg Pincus LLC.
Under the terms of the recapitalization proposal, Warburg Pincus and JLL, which collectively own approximately 50% of the outstanding shares of BLDR, offered to exchange $98 million of floating rate BLDR notes due 2012 that they own for 49 million shares of common stock valued at $2 per share. The remaining BLDR noteholders will be permitted to exchange their notes for new notes due to mature in 2017 at 75% of par value, or some combination of new notes and common stock valued at $2 per share.
The investigation concerns possible breaches of fiduciary duty by the board of directors of BLDR related to the reorganization proposal. If you own shares in BLDR and would like to discuss this matter further, please feel free to contact us at the information below.