WILMINGTON, Del., Feb. 25, 2013 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Metals USA Holdings Corp. (NYSE: MUSA)?
- Did you purchase any of your shares prior to February 6, 2013?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is continuing its investigation of potential legal claims against the board of directors of Metals USA Holdings Corp. ("Metals USA" or the "Company") (NYSE: MUSA) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Reliance Steel & Aluminum Co. ("Reliance") (NYSE: RS) in a transaction with an enterprise value of approximately $1.2 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/metals-usa-holdings-corp-musa.
Under the terms of the proposal, public shareholders of Metals USA will receive $20.65 per share in cash for each share of Metals USA they own.
The investigation concerns whether Metals USA's board of directors failed to adequately shop the Company and obtain the best possible value for Metals USA's shareholders before entering into an agreement with Reliance. According to Yahoo! Finance, at least one analyst has set a price target for Metals USA stock at $21.00. A putative class action lawsuit challenging the proposed transaction was filed in the Circuit Court of the Seventeenth Judicial Circuit in and for Broward County, Florida on February 12, 2013 (Edwards v. Metals USA Holdings Corp., et al., No CACE1300979).
If you own the common stock of Metals USA and purchased your shares before February 6, 2013, 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 Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/metals-usa-holdings-corp-musa.
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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SOURCE Rigrodsky & Long, P.A.