The Law Office of Joseph Klein Announces Investigation of Acquisition of Bluelinx Holdings Inc. by Majority Shareholder - BXC
The Law Office of Joseph Klein is investigating the Board of Directors of Bluelinx Holdings Inc. ("Bluelinx" or the "Company") (NYSE: BXC) and its majority shareholder, Cerberus ABP Investor LLC ("CAI"), for possible breaches of fiduciary duty and other violations of state law.
- New York, NY (1888PressRelease) July 28, 2010 - CAI announced that it intends to commence a tender offer for all of the publicly held shares of BlueLinx that it does not already own at a price of $3.40 in cash per share. Based on shares outstanding as of May 7, 2010, CAI currently owns 55.39% of the outstanding common stock of BlueLinx. In a letter sent to the Board of Directors of BlueLinx, CAI stated that it has no current interest in selling its stake in BlueLinx nor would it currently expect, in its capacity as a stockholder, to vote in favor of any alternative sale, merger or similar transaction.
The investigation concerns whether the Bluelinx Board of Directors breached their fiduciary duties to Bluelinx stockholders and whether CAI is underpaying for Bluelinx shares. Bluelinx stock traded at over $6.00 per share in April this year and at least one analyst set a price target for Bluelinx stock at $5.00 per share.
If you own common stock in Bluelinx and wish to obtain additional information about this investigation and what is being done to advance the shareholders' interests, please contact Joseph Klein, Esq. directly, via email at jk ( @ ) jkleinlawfirm dot com, by telephone at 718-947-0005, Toll Free: 877-STOK-180, or visit http://www dot jkleinlawfirm dot com/bluelinx-bxc dot html dot All consultations are confidential and free of charge dot
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation.
CONTACT:
Joseph Klein, Esq.
1560 East 27th Street
Brooklyn, NY 11229
Telephone: (718) 947-0005
Fax: (718) 799-1443
Toll Free: (877) STOK-180 (877-786-5180)
E-Mail: jk ( @ ) jkleinlawfirm dot com
The Web: www.jkleinlawfirm.com
- and -
http://www.jkleinlawfirm.com/bluelinx-bxc.html
###
space
space
Satisfied Users & 
Approved Press Releases
Print
Email
Report Spam