Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of ICO, Inc. - ICOC
December 03 2009 - 9:31AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
ICO, Inc. (“ICO” or the “Company”) (NasdaqGS: ICOC) for possible
breaches of fiduciary duty and other violations of state law in
connection with their attempt to sell the Company to A. Schulman,
Inc. ("A. Schulman") (NasdaqGS: SHLM). Under the terms of the
transaction, ICO shareholders will receive cash and A. Schulman
stock worth approximately $6.79 per share. In total, A. Schulman
will pay approximately $105 million in cash and 5.1 million shares
of A. Schulman common stock for a total transaction value of
approximately $191.4 million.
The investigation concerns whether the ICO Board of Directors
breached their fiduciary duties to ICO stockholders by failing to
adequately shop the Company before entering into this transaction
and whether A. Schulman is underpaying for ICO shares, thus
unlawfully harming ICO stockholders.
If you own common stock in ICO and wish to obtain additional
information, please contact us at the number listed below or visit
http://www.zlk.com/ico1.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation.
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