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 Fairmount Santrol Holdings Inc. (NYSE: FMSA) (“Fairmount” or the “Company”) relating to the proposed buyout of Fairmount by Unimin Corporation, a wholly owned subsidiary of SCR-Sibelco NV.
Under the terms of the agreement, Fairmount shareholders, including equity award holders, will receive $170 million in cash, or approximately $0.74 per share based on Fairmount’s current diluted share count. The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company’s shares of common stock.
If you currently own common stock of Fairmount and believe that the proposed buyout price is too low, and you would like to learn more about the investigation being conducted, without cost or obligation to you, please contact Brower Piven either by email at hoffman@browerpiven.com 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.