WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of Federal-Mogul Holdings Corporation (NASDAQ GS: FDML)?
- Did you purchase any of your shares prior to February 29, 2016?
- 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 Federal-Mogul Holdings Corporation (“Federal-Mogul” or the “Company”) (NASDAQ GS: FDML) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s receipt of a proposal to be acquired by its majority shareholder, Icahn Enterprises L.P. (“IEP”).
Click here to learn more: http://www.rigrodskylong.com/investigations/federal-mogul-holdings-corporation-fdml-proposal.
Under the terms of the proposal, public shareholders of Federal-Mogul would receive $7.00 in cash for each share of Federal-Mogul they own. IEP owns approximately 82.0% of the outstanding shares of common stock of Federal-Mogul.
The investigation concerns the Federal-Mogul’s board of directors’ process for consideration of the proposed transaction, whether the Company is acting in its shareholders’ best interests and whether the proposed consideration to be paid to Federal-Mogul’s shareholders would be fair and adequate. According to Yahoo! Finance, at least one analyst has issued a price target for Federal-Mogul stock at $9.00 per share.
If you own the common stock of Federal-Mogul and purchased your shares before February 29, 2016, 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, Delaware 19803; by telephone at (888) 969-4242; or by e-mail to info@rl-legal.com, or at: http://www.rigrodskylong.com/investigations/federal-mogul-holdings-corporation-fdml-proposal.
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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