Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether members of the board of directors of American Pacific Corporation breached their fiduciary duties in connection with the planned sale of the Company to H.I.G. Capital, LLC. American Pacific manufactures and sells fine chemicals and specialty chemicals in the United States and internationally.
On January 10, 2014, American Pacific and H.I.G. announced that they had entered into a definitive merger agreement. Under terms of the transaction, American Pacific shareholders will receive $46.50 in cash for each share owned, or approximately $392 million. In October 2013 the stock traded as high as $60.36.
The investigation concerns whether the American Pacific board members failed to satisfy their duties to the Company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock.
If you are a American Pacific shareholder and would like additional information concerning your legal rights, please contact lead analyst Jim Baker at 619-230-0063, Ext118.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits.