Erickson Air-Crane, Inc. Securities Litigation (Nasdaq: EAC)
SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of Erickson Air-Crane, Inc - EAC
BALA CYNWYD, June 28, 2013 /PRNewswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors and majority shareholder of Erickson Air-Crane, Inc. (“Erickson” or the “Company”) (Nasdaq- EAC -News) relating to the acquisition of Evergreen Helicopters, Inc. (“Evergreen”).
On March 20, 2013, Erickson announced that it had agreed to acquire Evergreen for $250 million. However, prior to the acquisition Evergreen was in financial debt and may have been unable to repay a second lien it owed to ZM Funds. The acquisition of Evergreen allowed ZM Funds, which is the owner of approximately 60% of Erickson, to exchange approximately $120 million in distressed debt of Evergreen for millions of Erickson shares.
The investigation seeks to determine if Erickson’s Board of Directors breached their fiduciary duties by agreeing to the transaction and if conflicts of interest played a role in the transaction which aided Erickson’s majority shareholder. According to Erickson’s public disclosures, Erickson’s shareholders were not given the opportunity to vote on the Evergreen acquisition.
If you own shares of Erickson common stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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Evan J. Smith, Esquire
Brodsky & Smith, LLC
Two Bala Plaza, Suite 510
Bala Cynwyd, PA 19004
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