BALA CYNWYD, Pa., June 15, 2009 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Cavalier Homes, Inc. ("Cavalier Homes" or the "Company") (AMEX:CAV) relating to the proposed acquisition by Southern Energy Homes, a wholly owned subsidiary of Clayton Homes.
Under the proposed agreement, Cavalier shareholders will receive $2.75 for each outstanding share of common stock. The deal is valued at approximately $48 million. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the Cavalier Homes' Board's approval of the proposed transaction. The approval appears unfair based upon an analyst estimate and the Company's book value.
If you own shares of Cavalier Homes and wish to discuss the legal ramifications of the proposed acquisition by Southern Energy Homes, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Marc Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.