The Law Office of Vincent Wong is investigating the Board of Directors of Bluelinx Holdings Inc. (“Bluelinx” or the “Company”) (NYSE: BXC) and its majority shareholder, Cerberus ABP Investor LLC (“CAI”), for possible breaches of fiduciary duty and other violations of state law.
New York, NY, August 03, 2010 — CAI announced that it intends to commence a tender offer for all of the publicly held shares of BlueLinx that it does not already own at a price of $3.40 in cash per share. Based on shares outstanding as of May 7, 2010, CAI currently owns 55.39% of the outstanding common stock of BlueLinx. In a letter sent to the Board of Directors of BlueLinx, CAI stated that it has no current interest in selling its stake in BlueLinx nor would it currently expect, in its capacity as a stockholder, to vote in favor of any alternative sale, merger or similar transaction.
The investigation concerns whether the Bluelinx Board of Directors breached their fiduciary duties to Bluelinx stockholders and whether CAI is underpaying for Bluelinx shares. Bluelinx stock traded at over $6.00 per share in April this year and at least one analyst set a price target for Bluelinx stock at $5.00 per share.
If you own common stock in Bluelinx 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 [email protected], by telephone at 212.584.2740, or visit http://wongesq.com/bluelinx-bxc.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights.
About Us:
Vincent S. Wong represents corporations and individuals in complex litigation matters, primarily relating to corporate or commercial matters. Vincent S. Wong has more than ten years experience in corporate law among the top law firms in the world, including Arent Fox LLP, Weil, Gotshal & Manges LLP, and Moskowitz, Altman & Hughes LLP (now known as KMZ Rosenman).
Vincent S. Wong has represented international and domestic clients in connection with a wide range of corporate, transactional, and securities compliance matters, including private merges, corporate governance, financing, restructurings, strategic alliances, joint ventures, and general corporate matters. His clients have included private equity funds, venture capital funds, and their general partners and investment managers.
For the last several years, Vincent S. Wong has established and run his own successful boutique law firm, which has grown to two offices to better serve our clients.
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Contact:
Vincent Wong, Esq.
Law Office of Vincent Wong
39 East Broadway Suite 304
New York, NY 10002
212.584.2740
[email protected]
http://www.wongesq.com
