The Law Office of Vincent Wong Investigates Possible Breach of Fiduciary Duty by the Board of AmeriCredit Corp. - ACF
30 Juli 2010 - 12:19AM
Business Wire
The Law Office of Vincent Wong is investigating the Board of
Directors of AmeriCredit Corp. (“AmeriCredit” or the “Company”)
(NYSE: ACF) for possible breaches of fiduciary duty and other
violations of state law.
AmeriCredit announced that it had agreed to be acquired by
General Motors Co. for $24.50 in cash per share. The transaction is
expected to close by the end of the fourth quarter of 2010, pending
certain closing conditions, including the approval of AmeriCredit
shareholders.
The investigation concerns, among other things, whether the
AmeriCredit Board of Directors breached their fiduciary duties to
its stockholders by failing to adequately shop the Company before
entering into this transaction and whether General Motors Co. is
underpaying for AmeriCredit shares, thus unlawfully harming
AmeriCredit stockholders. At least one analyst has a target price
for AmeriCredit of $26.00 per share, and the stock has traded as
high as $26.49 per share within the last year.
If you own common stock in AmeriCredit and wish to obtain
additional information about this investigation and what is being
done to advance the shareholders’ interests, please contact Vincent
Wong, Esq. directly, via email at vw@wongesq.com, by telephone at
212.584.2740, or visit http://wongesq.com/americredit-gm.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights.
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