DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of Pike Corporation (“Pike”) (NYSE: PIKE) related to the proposal from its chief executive and a private equity firm to take the company private. Under the terms of the deal, Pike’s Chief Executive Officer and a private equity firm would acquire all outstanding shares for $12 per share, well below the 52-week high of $12.57 and at least one analyst’s estimated value of $13 per share.
If you are an affected investor, and you want to learn more about the investigation or if you have information that you believe would be helpful to our investigation of the fairness of the proposed transaction, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
According to shareholder rights attorney Willie Briscoe, “The investigation relates to the fairness of the proposed transaction to Pike shareholders and whether the Board of Directors is adequately shopping the company in order to obtain the best possible price for the shareholders. In addition, the firms are actively investigating possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Pike in connection with the potential approval of this transaction, and whether Pike’s Board of Directors is acting in the shareholders’ best interests.” Notably, at least one analyst with Yahoo! Finance believes the true inherent value of the stock could be as high as $13.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.