Robbins Umeda LLP Announces an Investigation of Arch Chemicals, Inc.
SAN DIEGO--(BUSINESS WIRE)--Robbins Umeda LLP, a shareholder rights litigation firm has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of Arch Chemicals, Inc. (NYSE:ARJ) in connection with their efforts to sell the company to Lonza Group Ltd. (SIX:LONN).
If you own stock in Arch Chemicals and would like more information about your shareholder rights, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or via the shareholder information form on our website.
On July 11, 2011, Arch Chemicals announced that it had entered into a definitive merger agreement under which Lonza Group Ltd. will acquire all outstanding shares of the company in a cash tender offer. Under the terms of the agreement, on July 15, 2011, Lonza Group Ltd. is expected to commence a tender offer to acquire outstanding shares of Arch Chemicals for $47.20 per share. The transaction is expected to close in fiscal year 2011.
The investigation focuses on whether Arch Chemical's board is undertaking a fair process to obtain maximum value and adequately compensate shareholders in light of the company's recent positive financial results. Arch Chemicals reported first quarter results for fiscal year 2011 that exceeded analyst expectations. On May 3, 2011, the company reported $325.5 million in revenue for the quarter, a 9% increase over the same quarter in the prior year, and above analyst expectations of only $316.5 million.
Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action lawsuits. The firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career shareholder rights attorneys. For more information, please go to http://www.robbinsumeda.com.
Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/arch-chemicals-inc/
Attorney Advertising.