WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of MCG Capital Corporation (NASDAQ GS: MCGC)?
- Did you purchase any of your shares prior to April 29, 2015?
- Do you think the proposed buyout value is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of MCG Capital Corporation (“MCG Capital” or the “Company”) (NASDAQ GS: MCGC) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by PennantPark Floating Rate Capital Ltd. (“PennantPark”) (NASDAQ GS: PFLT), in a transaction valued at approximately $175 million.
Click here to learn more: http://rigrodskylong.com/investigations/mcg-capital-corporation-mcgc.
Under the terms of the agreement, shareholders of MCG Capital will receive $4.521 in PennantPark shares and $0.226 per share in cash for each share of MCG Capital common stock owned.
The investigation concerns whether MCG Capital’s board of directors failed to adequately shop the Company and obtain the best possible value for MCG Capital’s shareholders before entering into an agreement with PennantPark.
If you own the common stock of MCG Capital and purchased your shares before April 29, 2015, 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 D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com, or at: http://rigrodskylong.com/investigations/mcg-capital-corporation-mcgc.
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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