STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Pike Corporation (“Pike” or the “Company”) (NYSE: PIKE) relating to the proposed buyout of the Company by investment firm Court Square Capital Partners (“Court Square”).
On August 4, 2014, Pike announced the signing of a definitive merger agreement pursuant to which Court Square, in partnership with J. Eric Pike, the Company’s Chairman and Chief Executive Officer, will acquire the Company in a transaction in which each of the Company’s shareholders will receive $12.00 in cash for each share of the Pike common stock they hold.
The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into the transaction, and whether Court Square is underpaying for Pike shares. In particular, at least one analyst has set a price target for Pike stock at $13.00 per share.
If you currently own common stock of Pike and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.