WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Erickson Air-Crane, Inc. (“Erickson” or the “Company”) (NASDAQ GM: EAC) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s acquisition of Evergreen Helicopters, Inc. (“Evergreen”). A complaint relating to these possible breaches of fiduciary duties and violations of law was recently filed in the Court of Chancery of the State of Delaware.
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The investigation concerns whether the acquisition of Evergreen constituted a breach of fiduciary duty by Erickson’s board of directors, and the Company’s majority shareholder, ZM Funds. According to a report published on SeekingAlpha.com, the acquisition of Evergreen allowed ZM Funds to exchange $120 million of Evergreen debt for millions of shares of Erickson. In the end, despite the enthusiasm from Erickson and ZM Funds, the report states that this acquisition is more likely to sink the entire ship for Erickson and its public shareholders.
If you own the common stock of Erickson and purchased your shares before June 13, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/erickson-air-crane-inc-eac.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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