MANAGEMENT BUYOUT - LAW FIRM SEEKS MORE MONEY FOR SHAREHOLDERS
October 15, 2012
New York, New York -- Tripp Levy PLLC, a leading national securities law firm, announces that it has been retained to represent American Lorain Corp. shareholders. American Lorain Corporation (NYSE Amex: ALN) (the "Company"), announced that its Board of Directors has received a preliminary, non-binding proposal letter dated October 9, 2012 from Mr. Si Chen, Chairman, CEO and President of the Company, to acquire all of the outstanding ordinary shares of the Company not currently owned by Mr. Chen at a proposed price of $1.6 per ordinary share, in cash, subject to certain conditions. Mr. Chen currently beneficially owns, in the aggregate, approximately 46.5% of the Company's outstanding ordinary shares.
The investigation concerns whether the Mr. Chen and the Board of Directors of ALN breached their fiduciary duties to shareholders by not engaging in a full and fair auction of the company to get shareholders the highest price possible, while not allowing Mr. Chen to acquire the company for the lowest price possible. Indeed, the book value alone of the company is in excess of $4.70 per share and a wall street analyst has stated the company is worth at least $6 per share.
If you are a shareholder of ALN and would like additional information concerning this matter, please contact us toll free at 877-772-3975 or email at contact @ tripplevy
Tripp Levy PLLC is a national law firm and has recovered millions of dollars for shareholders around the globe