WILMINGTON, Del., Oct. 6, 2014 (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 Viasystems Group, Inc. ("VIAS" or the "Company") relating to the sale of the Company to TTM Technologies Group, Inc. ("TTM"). On September 22, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which TTM will acquire VIAS in a merger in a deal worth $368 million (excluding debt). As a result of the merger, VIAS shareholders are only anticipated to receive $11.33 per share in cash and 0.706 shares of TTM stock in exchange for each share of VIAS.
Andrews & Springer's investigation focuses on the insufficient consideration that VIAS shareholders are expected to receive. Following the merger, VIAS shareholders are expected to be substantially diluted, owning only a small minority interest of the combined company. Additionally, the 0.706 fixed exchange ratio restricts the value that VIAS shareholders are expected to receive by exposing VIAS shareholders to the volatility of TTM's share price.
Andrews & Springer is also investigating whether VIAS directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value.
If you own shares of VIAS and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/VIAS 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.