MILWAUKEE, June 22, 2015 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of HME for possible breaches of fiduciary duty and other violations of state law in connection with the sale of HME to Lone Star.
Click here to learn how to join the action: http://www.ademilaw.com/case/hme or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
HME’s long-term financial outlook is positive and yet shareholders will receive only $75.23 per share. Lone Star is well aware of HME’s improving financial metrics and is purchasing HME 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 HME receive and accept a superior bid. HME’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 HME, which may not be in the best interests of non-insider shareholders. Our investigation centers on the conduct of HME’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 HME given its current financial condition and prospects.
If you own shares of HME 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/hme.
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.