The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Metals USA Holdings Corp. in Connection with the Sale of the Company to Reliance Steel & Aluminum Co.
by PR Newswire
NEW YORK, Feb. 7, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Metals USA Holdings Corp. ("Metals USA" or the "Company") (NYSE: MUSA) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Reliance Steel & Aluminum Co.
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Under the terms of the transaction, Metals USA shareholders will receive $20.65 for each share of Metals USA stock they own. The investigation concerns whether the Metals USA Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether Reliance Steel & Aluminum Co. is underpaying for Metals USA shares, thus unlawfully harming Metals USA stockholders. In particular, at least one analyst set a price target for Metals USA stock at $21.00 per share.
If you own common stock in Metals USA and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/metals-usa-holdings-musa/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
SOURCE Levi & Korsinsky, LLP