NEW YORK--(BUSINESS WIRE)--Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Quality Distribution, Inc. (“Quality Distribution” or the “Company”) (Nasdaq:QLTY) for potential breaches of fiduciary duties in connection with the sale of the Company to Apax Partners (“Apax”) for approximately $800 Million in an all-cash transaction. The Company’s stockholders will receive $16.00 for each share of Quality Distribution common stock they own. It is important to note that analysts have set price targets as high as $18.00 for a share of Quality Distribution.
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The investigation focuses on whether Quality Distribution’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Quality Distribution’s shareholders.
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If you own common stock in Quality Distribution and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/QLTY or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.
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