Tripp Levy PLLC Announces Investigation of China Advanced Construction Materials Group
July 26 2011 - 11:50AM
Business Wire
Tripp Levy PLLC, a leading national securities law firm,
announces an investigation into the proposed acquisition of China
Advanced Construction Materials Group, Inc. (Nasdaq: CADC) by its
Chairman and CEO, Xianfu Han, and Weili He, Vice Chairman and COO,
to acquire the remainder of the Company they do not already own for
$2.65 per share in cash.
Mr. Han and Mr. He already own approximately 49.5% of the
Company’s outstanding common stock.
The investigation concerns, among other things, whether the
consideration to be paid to CADC shareholders is unfair,
inadequate, and substantially below the fair or inherent value of
CADC. Indeed, analysts estimate the stock is worth at least $5 per
share. The investigation further concerns whether Mr. Han and Mr.
He as well as the board of directors of CADC may have breached
their fiduciary duties by not acting in CADC shareholders' best
interests in connection with the sale process of CADC.
If you own CADC common stock and you wish to discuss this matter
with us, or have any questions concerning your rights and interests
with regard to this matter, please contact:
Tripp Levy Tripp Levy PLLC 125 East 82nd Street 9th Floor New York,
New York Toll Free: 877-772-3975
Email: contact@tripplevy.com
Tripp Levy PLLC is a national law firm that specializes in
mergers & acquisitions, takeover litigation, shareholder
rights, and corporate governance matters in state and federal
courts throughout the United States. Attorney advertising. Prior
results do not guarantee a similar outcome.
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