Rigrodsky & Long, P.A. Continues Their Investigation Of Metals USA Holdings
WILMINGTON, Del., Feb. 25, 2013
WILMINGTON, Del., Feb. 25, 2013 /PRNewswire/ --Rigrodsky & Long, P.A.:
oDo you own shares of Metals USA Holdings Corp. (NYSE: MUSA)?
oDid you purchase any of your shares prior to February 6, 2013?
oDo you think the proposed buyout price is too low?
oDo you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is continuing its investigation of
potential legal claims against the board of directors of Metals USA Holdings
Corp. ("Metals USA" or the "Company") (NYSE: MUSA) regarding possible breaches
of fiduciary duties and other violations of law related to the Company's entry
into an agreement to be acquired by Reliance Steel & Aluminum Co. ("Reliance")
(NYSE: RS) in a transaction with an enterprise value of approximately $1.2
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Under the terms of the proposal, public shareholders of Metals USA will
receive $20.65 per share in cash for each share of Metals USA they own.
The investigation concerns whether Metals USA's board of directors failed to
adequately shop the Company and obtain the best possible value for Metals
USA's shareholders before entering into an agreement with Reliance. According
to Yahoo! Finance, at least one analyst has set a price target for Metals USA
stock at $21.00. A putative class action lawsuit challenging the proposed
transaction was filed in the Circuit Court of the Seventeenth Judicial Circuit
in and for Broward County, Florida on February 12, 2013 (Edwards v. Metals USA
Holdings Corp., et al., No CACE1300979).
If you own the common stock of Metals USA and purchased your shares before
February 6, 2013, if you have information or would like to learn more about
these claims, or if you wish to discuss these matters or have any questions
concerning this announcement or your rights or interests with respect to these
matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate
Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242,
by e-mail to email@example.com, or at:
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City,
New York, regularly prosecutes securities class, derivative and direct
actions, shareholder rights litigation and corporate governance litigation, on
behalf of shareholders in states and federal courts throughout the United
Attorney advertising. Prior results do not guarantee a similar outcome.
Rigrodsky & Long, P.A.
Fax: (302) 654-7530
SOURCE Rigrodsky & Long, P.A.
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