NEW YORK, Aug. 15, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Alcentra Capital Corporation ("Alcentra Capital" or the "Company") (ABDC) in connection with the proposed merger of the Company with Crescent Capital BDC ("Crescent BDC"). Under the terms of the merger agreement, ABDC shareholders will receive $3.1784 in cash and 0.4041 shares of Crescent BDC common stock for each share of Alcentra they own. Crescent BDS shareholders will own 81% of the combined company, leaving ABDC shareholders with a meager 19% stake in the newly combined company.
If you own ABDC shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
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New York, NY 10036
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WeissLaw is investigating whether Alcentra Capital's Board acted to maximize shareholder value prior to entering into the merger agreement. Notably, Alcentra Capital has entered into voting agreements with certain of Crescent BDC's shareholders, holding 70% of Crescent BDC's shares to, amongst other things, vote in favor of the merger.
Given these facts, WeissLaw is concentrating its investigation on whether the merger enhances shareholder value. According to Crescent BCD's Chief Executive Officer Jason Breaux, the deal will provide "our investors with improved scale and flexibility as we continue to enhance our private credit capabilities," WeissLaw is concerned whether the proposed merger undervalues the Company, and whether all material information related to the proposed merger is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com
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