BUYOUT OF ARTIO - LAW FIRM SEEKS HIGHER PRICE FOR SHAREHOLDERS
February 14, 2013
New York, New York -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it has been retained to represent Artio Global Investors Inc. Artio Global Investors Inc. (ART) , today announced that it has entered into an agreement with Aberdeen Asset Management PLC (“Aberdeen”), pursuant to which Aberdeen will acquire Artio Global for $2.75 in cash per share.
The investigation concerns whether the board of directors of ART breached their fiduciary duties in connection with the sale of the company for an unfairly low price. Indeed, the offer price of $2.75 is barely above the company's book value ($2.39 per share) and the company has almost $80 million in cash, accounting for $1.33 per share. Therefore the buyout price is not $2.75 but is really $1.42 per share (as the cash will go to Aberdeen). Further, the stock traded as high #$%$26 within the last 52 weeks.
If you are a shareholder of ART and would like to participate with other shareholders who feel the price is too low, at no cost or obligation, and obtain additional information, please contact us toll free at 1-877-772-3975 or email at contact @ tripplevy
Tripp Levy PLLC is a national firm and has recovered hundreds of millions of dollars for shareholders around the globe.