MANAGEMENT BUYOUT - LAW FIRMS 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 Yongye International shareholders. Yongye International, Inc. (NASDAQ: YONG) announced that its Board of Directors has received a preliminary, non-binding proposal letter dated October 15, 2012 from, among others, Mr. Zishen Wu ("Mr. Wu"), the Company's Chairman and Chief Executive Officer, to acquire all of the outstanding shares of common stock of the Company not currently owned by the Buyer Parties in a going private transaction for $6.60 per share of common stock in cash, subject to certain conditions.
The investigation concerns whether the board of directors of YONG and Mr. Wu has breached their fiduciary duties by not engaging in a full and fair auction of the company to ensure that shareholders obtain the highest price possible, while, not, at the same time, allowing Mr. Wu to buy the company for the lowest price possible. Indeed, the book value alone of YONG is $7.64 per share.
If you are a shareholder of YONG 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 leading national securities law firm and has recovered millions of dollars for shareholders around the globe.
Ok, so I was surprised to see so little discussion about this given the high level of activity that is typically on this msg board. Who is going to jump on board with this, or are these guys just ambulance chasers. We all know that $6.60 /share for this thing is a pittance. Thoughts everyone?