BlueLinx (BXC) shareholders are investigating possible breaches of fiduciary duty and other corporate violations by the board of directors of BlueLinx Holdings Inc. The investigation arises from majority shareholder Cerberus Capital’s tender offer to purchase the remaining shares of BlueLinx it does not already own for $3.40 share. >
AmeriCredit (ACF) shareholders are investigating possible breaches of fiduciary duty and other corporate violations by the board of directors of AmeriCredit. The investigation arises from AmeriCredit entering into a deal to sell the company to GM for $3.5 billion. >
Recent federal court decisions are victories for pharmaceutical sales representatives (or “drug reps”). The drug reps are fighting for overtime pay under the Fair Labor Standards Act (FLSA). Federal courts are finding drug companies improperly misclassified drug reps as exempt from laws requiring they receive time-and-a-half pay for their overtime hours worked. >
Shareholders are investigating whether Micrus Endovascular Corp. (NASDAQ: MEND) and its board are selling the company at an unfair price. Micrus shareholders are to receive $23.40 per common share from Johnson & Johnson or a mere 5.5% premium. >
Pet DRx (Nasdaq: VETS) shareholders are investigating possible breaches of fiduciary duty and other corporate violations by the board of directors of Pet DRx. The investigation arises from Pet DRx’s entering into a merger agreement with VCA Antech. >
Shareholders are investigating whether Virage Logic Corp. (NASDAQ: VIRL) and its board are selling the company via an unfair price at an unfair price. Virage Logic shareholders are to receive $12 per common share from Synopsys, Inc. >
On June 1, 2010 Mediacom Communications received a buyout offer from its founder and CEO, Rocco Commisso. Mr. Commisso already owns 40% of the outstanding shares of the company and controls 87% of the voting rights. As one cable analyst noted, “public shareholders will not let Rocco steal the company at $6.00.” >
Shareholders are investigating claims against BancorpSouth, Inc. (NYSE: BXS) and its board of directors in connection with the delay in the filing of the BancorpSouth’s annual 10-K report with the SEC, and subsequent writedown and losses due to previously undisclosed loan deteriation. >
Sybase shareholders are investigating the fairness of the SAP tender offer and possible breaches of fiduciary duty and other corporate violations by the board of directors of Sybase Inc. (NYSE: SY). >
Shareholders have filed suit against BP p.l.c. for breaches of fiduciary duty and other corporate violations by BP’s board of directors arising from the Deepwater Horizon explosion and resultant Gulf of Mexico disaster. >