Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of TMS International Corp. Over the Proposed Sale of the Company to Pritzker Organization, LLC.
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of TMS International Corp. (“TMS” or the “Company”) (NYSE: TMS) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to The Pritzker Organization, LLC, a private equity firm. Under the terms of the proposed transaction, TMS’s stockholders will receive $17.50 in cash for each share of TMS common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $19.00 for TMS. Furthermore, TMS has seen an uptrend in their stock prices, where prices have almost doubled over the trailing twelve months.
The investigation focuses on whether TMS’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 TMS’s shareholders.
If you own common stock in TMS and wish to obtain additional information and protect your investments free of charge, please 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.