Law Firm Brower Piven Announces Class Action Lawsuit in Connection With
Claims of Breaches of Fiduciary Duty by the Board of Edgen Group Inc. in
Connection With a Proposed Buyout
STEVENSON, Md. -- October 24, 2013
The securities litigation firm of Brower Piven, A Professional Corporation,
announces that a class action lawsuit has been commenced in the Delaware
Chancery Court on behalf of all public stockholders ofEdgen Group Inc.
(“Edgen” or the “Company”) (NYSE:EDG).
According to the complaint, under the terms of the proposed transaction,
Sumitomo Corporation (“Sumitomo”) would acquire the outstanding common stock
of Edgen for $12.00 per share in cash. The complaint alleges that proposed
transaction is the product of a flawed process that resulted from a failure to
maximize stockholder value and it deprives Edgen’s public stockholders of the
ability to share in the Company’s future prospects. The complaint also alleges
that, in approving the proposed transaction, the Company’s board of directors
breached their fiduciary duties and that Sumitomo aided and abetted the
board’s breaches of their duties.
If you currently own common stock of Edgen and would like to learn more about
the investigation being conducted by Brower Piven, you may email or call
Brower Piven, who will, without obligation or cost to you, attempt to answer
your questions. You may contact Brower Piven by email at
firstname.lastname@example.org, by calling (410) 415-6616, or at Brower Piven, A
Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating securities and
other class action cases of over 60 years.
Brower Piven, A Professional Corporation
Charles J. Piven, 410-415-6616
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