Robbins Umeda LLP Announces an Investigation of the Acquisition of Smurfit-Stone Container Corporation by RockTenn Company
Robbins Umeda LLP as commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of Smurfit-Stone Container Corporation (NYSE: SSCC) in connection with their efforts to sell the company to RockTenn Company (NYSE: RKT). If the transaction is completed, Smurfit-Stone shareholders will receive $17.50 in cash and 0.30605 shares of RockTenn for each share of Smurfit-Stone common stock they hold. The transaction is expected to close in the second quarter of 2011.
Robbins Umeda LLP’s investigation concerns whether the Smurfit-Stone board undertook a fair process to obtain fair consideration for its shareholders. Specifically, the investigation concerns whether members of the Smurfit-Stone board breached their fiduciary duties to its shareholders by failing to adequately shop the company before entering into the transaction with RockTenn.
If you are a shareholder of Smurfit-Stone, plan to continue to hold your shares, 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.