Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of International Coal Group Inc. (NYSE: ICO) arising from its proposed acquisition by Arch Coal, Inc. (NYSE: ACI).
Under the terms of the acquisition agreement, International Coal stockholders will receive $14.60 per share in an all-cash tender offer. The acquisition is expected to close in the second quarter of 2011.
Weiss & Lurie is investigating whether International Coal’s Board acted in the best interests of shareholders in approving the transaction and whether the Board properly sought to maximize shareholder value. International Coal recently reported the highest per ton margin in its history and metallurgical coal demand continues to improve with prices reaching near-record levels.
If you own International Coal shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Michael A. Rogovin either by email at firstname.lastname@example.org or by telephone at (888) 593-4771.
Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (such as insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading press releases or SEC filings), consumer fraud (such as false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.
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SOURCE: Weiss & Lurie