NEW YORK, April 26, 2013 (GLOBE NEWSWIRE) -- WeissLaw LLP, a national class action, shareholder rights law firm with offices in New York and Los Angeles, is examining possible breaches of fiduciary duty and other violations of law by the Board of Directors of Buckeye Technologies Inc. ("BKI" or the "Company") for agreeing to sell BKI to Georgia-Pacific LLC ("Georgia-Pacific") in a transaction valued at approximately $1.5 billion, including debt. Under the terms of the agreement, BKI shareholders will receive $37.50 in cash for each share of BKI common stock.
WeissLaw LLP is investigating whether BKI's Board acted to maximize shareholder value prior to entering into the agreement with Georgia-Pacific. Notably, at least one analyst set the price target for BKI stock at $40 – or $2.50 above the price offered by Georgia-Pacific. BKI's recent earnings for the second quarter of 2013 reflect a 4% increase in net sales from the previous quarter and its total shipment volume rose 6%, driven by increased shipments of specialty wood, fibers, fluff pulp, and nonwovens.
If you own BKI shares and would like more information about your rights or our investigation, please contact Joshua Rubin or Kelly C. Keenan either by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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