EDGEN GROUP INVESTOR ALERT: Faruqi & Faruqi, LLP Is Examining Claims Regarding
Breaches of Fiduciary Duty by the Board of Edgen Group Inc. (EDG) in
Connection With the Sale of Company to Sumitomo Corporation -- EDG
Faruqi & Faruqi, LLP, a Leading National Securities Firm Headquartered in New
York City, Is Examining Claims Against the Board of Directors of Edgen Group
NEW YORK, Oct. 22, 2013 (GLOBE NEWSWIRE) -- Juan E. Monteverde, a partner at
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New
York City, is reviewing claims against the Board of Directors of Edgen Group
Inc. ("Edgen" or the "Company") (NYSE:EDG) for potential breaches of fiduciary
duties in connection with their conduct related to the sale of the Company to
Japan's Sumitomo Corporation in a cash deal valued at approximately $520
million. Under the terms of the proposed transaction, Edgen's stockholders
will receive $12.00 for each share of Edgen common stock they own. Meanwhile,
According to Yahoo! Finance, at least one analyst has set a price target of
$15.00 for the Company. A complaint was filed in Louisiana District Court.
Request more information now by clicking here: www.faruqilaw.com/EDG. There is
no cost or obligation to you.
The complaint focuses on whether Edgen's Board of Directors breached their
fiduciary duties to the Company's stockholders by failing to conduct an
adequate and fair sales process prior to agreeing to this proposed
transaction, whether and by how much this proposed transaction undervalues the
Company to the detriment of Edgen's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and
individuals in class action litigation. The firm is focused on providing
exemplary legal services in complex litigation in the areas of securities,
shareholder, antitrust and consumer litigation, throughout all phases of
litigation. The firm has an experienced trial team which has achieved
significant victories on behalf of the firm's clients.
If you own common stock in Edgen and wish to obtain additional information and
protect your investments free of charge, please visit us at
www.faruqilaw.com/EDG or contact Juan E. Monteverde, Esq. either via e-mail at
firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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future matter. We are happy to discuss your particular case.
CONTACT: Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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