Trunkbow International Holdings, Ltd. Merger Litigation (Nasdaq: TBOW)
SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of Trunkbow International Holdings, Ltd. - TBOW
BALA CYNWYD, December 11, 2013 (Business Wire) –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Trunkbow International Holdings, Ltd. (“Trunkbow” or the “Company”) (Nasdaq –TBOW-News) relating to the proposed acquisition by a company owned by the Chairman of Trunkbow’s Board of Directors and Trunkbow’s Chief Executive Officer and Director.
Under the terms of the transaction, Trunkbow shareholders will receive only $1.46 in cash for each share of Trunkbow stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Trunkbow for not acting in the Company’s shareholders' best interests in connection with the sale process. The investigation seeks to determine if the Trunkbows Board of Directors failed to conduct an adequate auction process and as a result harmed the Trunkbow shareholders by undervaluing their Company.
The transaction will result in a loss or no gain for many long term Trunkbow shareholders. Trunkbow stock traded above the sale price at $2.29 per share on January 11, 2012 and traded at $1.46 per share as recently as February 7, 2013. In addition, Trunkbow has a reported book value of $2.70 per share for the most recent quarter.
If you own shares of Trunkbow 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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