MERION, Pa., March 11, 2016
/PRNewswire/ -- The Law Offices of Marc S. Henzel (www.henzellaw.com), a firm
focusing on shareholder litigation, gives notice to shareholders of
investigation into the following securities for violations of the
Federal Securities Laws:
PowerSecure International, Inc. (NYSE: POWR) 2/24/16
The firm has commenced an investigation into the fairness of the
sale of PowerSecure International, Inc. to Southern Company for
$18.75 in cash per share. The
investigation focuses on whether PowerSecure's Board of Directors
breached their fiduciary duties to the Company's stockholders by
failing to conduct a fair sales process and whether and by how much
this proposed transaction undervalues the Company to the detriment
of PowerSecure's shareholders.
Carmike Cinemas Inc. (Nasdaq: CKEC) 3/9/16
The firm is investigating the Board of Directors of Carmike
Cinemas Inc. (NasdaqGS: CKEC) for potential breaches of fiduciary
duties in connection with the sale of the Company to AMC
Entertainment Holdings, Inc. for approximately $1.1 billion in an all-cash transaction.
The Company's stockholders will receive $30.00 for each share of Company common stock
they own. However, this consideration is below Carmike Cinemas'
52-week high of $34.94 per share.
The investigation focuses on whether Carmike Cinemas' Board of
Directors breached their fiduciary duties to the Company's
stockholders by failing to conduct a fair sales process and whether
and by how much this proposed transaction undervalues the Company
to the detriment of Carmike Cinemas' shareholders.
Checkpoint Systems Inc. (NYSE: CKP) 3/3/16
The firm is investigating the Board of Directors of Checkpoint
Systems, Inc. (CKP) for potential breaches of fiduciary duties in
connection with the sale of the Company to CCL Industries Inc. for
approximately $443 million.
The Company's stockholders will receive $10.15 in cash for each share of Company common
stock they own which is below the 52-week high of $11.85 per share.
The investigation focuses on whether Checkpoint's Board of
Directors breached their fiduciary duties to the Company's
stockholders by failing to conduct a fair sales process and whether
and by how much this proposed transaction undervalues the Company
to the detriment of Checkpoint's shareholders.
Tumi Holdings, Inc. (NYSE: TUMI) 3/4/16
The firm is investigating the Board of Directors of Tumi
Holdings, Inc. (TUMI) for potential breaches of fiduciary duties in
connection with the sale of the Company to Samsonite International
S.A. for approximately $1.8 billion
in an all-cash transaction.
The Company's stockholders will receive $26.75 for each share of Company common stock
they own.
The investigation focuses on whether Tumi's Board of Directors
breached their fiduciary duties to the Company's stockholders by
failing to conduct a fair sales process and whether and by how much
this proposed transaction undervalues the Company to the detriment
of Tumi's shareholders.
Javelin Mortgage Investment Corp. (NYSE: JMI) 3/2/16
The firm's investigation concerns whether the JAVELIN
directors are breaching their fiduciary duties by failing to
adequately shop the Company and maximize shareholder
value. Javelin Mortgage Investment Corp. (JMI) announced
that it was being acquired by Armour Residential REIT, Inc. (ARR)
for $7.14 per share. While the offer
price represents a 19% premium to the company's stock price prior
to the announcement of the deal, the offer price is significantly
less than Javelin's 52-week high of $8.98 per share, and less than its book
value.
Sempra Energy (NYSE:
SRE) 5/14/15 thru 11/23/15
On October 23, 2015, Sempra's
subsidiary SoCalGas discovered a natural gas leak from the
Company's Aliso Canyon natural gas storage facility near the
Porter Ranch neighborhood in
Los Angeles (the "Porter Ranch
Leak").
On October 28, 2015, after a
strong gas odor became noticeable to Porter Ranch residents, SoCalGas publicly
acknowledged the Porter Ranch Leak.
For the next several months, SoCalGas attempted unsuccessfully
to plug the well. Meanwhile, local residents reported symptoms
including headaches, nausea, and severe nosebleeds, and thousands
of families were relocated from the area as SoCalGas unsuccessfully
attempted to seal the well.
The firm is investigating whether Defendants made materially
false and misleading statements regarding the Company's business,
operations, cash position, prospects, and internal controls.
On November 23, 2015, displaced
Porter Ranch residents filed a
class action lawsuit against SoCalGas, seeking damages and an order
requiring SoCalGas to disclose information related to the health
risks associated with the Porter Ranch Leak.
Rockwell Medical, Inc. (Nasdaq: RMTI)
9/9/15 thru 2/29/16
The firm is investigating potential violations of the federal
securities laws by Rockwell Medical, Inc. (RMTI) and
certain of its officers and directors. On September 9, 2015, Rockwell Medical disclosed the
U.S. commercial launch of Triferic, a FDA approved iron product
designed to replace iron and preserve hemoglobin in hemodialysis
patients in the United States. On
February 29, 2016, Rockwell Medical's
CFO Tom Klema revealed to investors
on a conference call that sales of Triferic were "immaterial" for
2015; and in response analysts questioned the Company's commercial
viability in the dialysis arena. On this news, Rockwell
Medical stock fell $3.29 per share,
or approximately 34%, to close at $6.31 per share on March
1, 2016.
Teekay Corporation (NYSE:
TK) 6/30/15 thru 12/17/15
The firm is investigating potential violations of the federal
securities laws by Teekay Corporation.
On June 30, 2015, Teekay it's
quarterly dividend 75% to $0.55 per
share. At the same time, Teekay assured investors that the
Company would at least maintain this higher dividend, and that
Teekay intended to increase the dividend by 15-20% in the coming
years. However, on December 16,
2015, Teekay shocked the market when it announced that it
was slashing its dividend by 90% - from $0.55 per share to just $0.055 per share.
On this news, shares of Teekay plummeted over 58%, closing at
$7.27 per share on December 17, 2015, on heavy trading
volume.
Hortonworks, Inc. (NYSE: HDP)
11/4/15 thru 1/15/16
On November 12, 2015, Hortonworks
filed a quarterly report with the Securities and Exchange
Commission ("SEC") for the quarter ended September 30, 2015 on Form 10-Q, stating, in
part: "We believe that our existing cash and cash equivalents
balance, together with cash generated from sales of our support
subscriptions and professional services to customers, will be
sufficient to meet our working capital and capital expenditure
requirements for the next 12 months."
The stock climbed as high as $22.08, a gain of nearly 26%, thereafter.
However, on January 15, 2016, after
the market closed, Hortonworks announced it had retained Goldman
Sachs to raise $100 million in a
secondary offering. Analysts expressed surprise, with one
stating, "We believe it will be incumbent on HDP during its
roadshow to show why this offering, announced in this way, at this
time, should not be interpreted as evidence of serious
difficulty."
As a result of this news, Hortonworks stock fell $6.13, or nearly 37%, to close at $10.44 on January 19,
2016, the next trading day.
PTC Therapeutics, Inc. (Nasdaq:
PTCT) 5/6/14 thru 2/23/16
The firm is investigating PTC Therapeutics, Inc. (Nasdaq: PTCT)
for violations of the Federal Securities Law. On February 23, 2016, PTC announced that it received
a Refuse to File letter from the United States Food and Drug
Administration ("FDA") regarding the New Drug Application for
Translarna. The FDA stated in the Refuse to File letter that the
application was not sufficiently complete to permit a substantive
review. On this news, shares of PTC fell over 61%, closing at
$10.84 per share on February 23, 2016, a market capitalization loss
of close to $600 million.
G. Willi-Food International Ltd. (Nasdaq: WILC)
4/30/14 thru 2/18/16
The firm is investigating whether defendants issued materially
false and misleading statements, and omitted materially adverse
facts, about the Company's business, operations and
prospects. The Company issued a press release announcing that
the Company, along with its senior executive Gregory Gurtovoy ("Gurtovoy") and other officers
and directors of G. Willi-Food's parent companies, are being
investigated by the Israel Security Authority ("ISA"). According to
an article published by Israeli newspaper Haaretz, Gurtovoy is
suspected by the ISA of illegally siphoning money from G.
Willi-Food.
On this news, shares of G. Willi-Food declined over 5%, closing
at $3.75 per share on February 18, 2016.
If you would like to learn more about the investigation of these
companies, would like to learn more about any potential claims or
you wish to discuss these matters and have any questions concerning
this announcement or your rights, please contact Marc S. Henzel (610) 660-8000, email at
Mhenzel@Henzellaw.com, or to sign up online, visit the firm's
website at www.henzellaw.com.
The Law Offices of Marc S. Henzel
is a national shareholder litigation firm representing shareholders
& investors in various areas of securities laws including but
not limited to: class actions, derivatives, transactional
(buyouts/takeovers/mergers) and FINRA & NYSE Arbitrations.
Contact:
Law Offices of Marc S. Henzel
Marc S. Henzel
Email: Mhenzel@Henzellaw.com
Phone 610-660-8000
Website: www.henzellaw.com
LAW OFFICES OF MARC S. HENZEL
MERION STATION, PA 19066
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/law-offices-of-marc-s-henzel-commences-investigation-of-companies-for-violations-of-the-federal-securities-laws-300234414.html
SOURCE Law Offices of Marc S.
Henzel