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.
Under the terms of the tender offer BlueLinx shareholders would receive $3.40 in cash for each share of BlueLinx common stock they own. Shareholders are questioning the deal based on the fact BlueLinx common stock traded at $6.32 as recently as April of this year.
Shareholders are investigating potential breaches of fiduciary duty and other violations concerning the transaction’s approval by BlueLinx’s board of directors, and in particular whether BlueLinx’s board undertook a fair and complete process to attain the highest value for BlueLinx’s public shareholders.
If you are a BlueLinx shareholder and wish to speak with us about your legal rights or are interested in participating in litigation concerning the BlueLinx tender offer, please complete the following form or call us at 1-877-573-0007.
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