NEW YORK--(BUSINESS WIRE)--Newman Ferrara LLP has begun an investigation into potential claims against the board of directors of Artio Global Investors Inc. (“Artio Global”) (NYSE: ART) concerning the proposed acquisition of Artio Global by asset management firm Aberdeen Asset Management PLC (“Aberdeen”).
On February 14, 2013, Artio Global announced that it had entered into an agreement and plan of merger to be acquired by Aberdeen, under which Artio Global’s shareholders will receive only $2.75 in cash for each share of Artio Global stock owned. However, Artio Global common stock has traded at above the $2.75 per share offer price as recently as October 5, 2012, when it traded at $2.81 per share. The $2.75 per share offer price is also well below Artio Global’s 52-week trading high of $5.26 per share. In fact, Artio Global common stock has traded at above the $2.75 per share offer price at all times from Artio Global’s initial public offering in 2009 to October 3, 2012.
Artio Global’s Board of Directors has unanimously approved the proposed merger agreement and resolved to recommend that Artio Global’s shareholders vote to approve the transaction, which is expected to close by the end of the second quarter or early in the third quarter of 2013.
Newman Ferrara LLP’s investigation concerns whether Artio Global’s Board of Directors has breached its fiduciary duties to act in the best interests of Artio Global’s shareholders and to take all necessary steps to ensure that Artio Global’s shareholders receive the maximum value readily available for their shares of Artio Global common stock.
Concerned investors may contact Newman Ferrara attorney Roy Shimon at (212) 619-5400 or firstname.lastname@example.org to discuss this investigation, their rights, or potential remedies.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.
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