MILWAUKEE, May 7, 2015 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of Quality Distribution for possible breaches of fiduciary duty and other violations of state law in connection with the sale of Quality Distribution to Apax.
Click here to learn how to join the action: http://www.ademilaw.com/case/qlty or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Quality Distribution’s long-term financial outlook is positive and yet shareholders will receive only $16 per share. Apax is well aware of Quality Distribution’s improving financial metrics and is purchasing Quality Distribution at a substantial discount. The merger agreement unreasonably limits prospective bids by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Quality Distribution receive and accept a superior bid. Quality Distribution’s insiders and their affiliates own significant stock, and will receive millions of dollars as part of change of control arrangements. These insiders can unduly influence a sale of Quality Distribution, which may not be in the best interests of non-insider shareholders. Our investigation centers on the conduct of Quality Distribution’s Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Quality Distribution given its current financial condition and prospects.
If you own shares of Quality Distribution and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/qlty.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.