Robbins Umeda LLP Is Investigating RC2 Corporation Acquisition for Shareholders
Robbins Umeda LLP, a shareholder rights litigation firm, is investigating possible breaches of fiduciary duty and other violations of state law by members of the board of directors of RC2 Corporation (NASDAQ: RCRC) in connection with their efforts to sell RC2 Corporation to Tomy Company Ltd.
If you own stock in RC2 Corporation and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at firstname.lastname@example.org.
On March 10, 2011, Tomy Company announced it has entered into a definitive merger agreement to purchase RC2 Corporation through an all-cash tender offer. If the transaction is completed, RC2 Corporation shareholders will receive $27.90 in cash for each share of RC2 Corporation common stock they hold. The tender offer is expected to close during the second quarter of 2011.
The investigation seeks to determine whether RC2 Corporation’s board of directors undertook a fair process to obtain maximum value for its shareholders. Notably, at least one analyst has set a target price for RC2 Corporation stock at $29.00 per share. Furthermore, on February 15, 2011, RC2 Corporation reported net income for the fourth quarter 2010 of $10.1 million, much higher than their fourth quarter 2009 reported net income of $8.3 million.