|By PR Newswire||
|August 4, 2014 01:30 PM EDT||
NEW YORK, Aug. 4, 2014 /PRNewswire/ -- Morgan & Morgan announces that it is investigating the proposed sale of Pike Corporation ("Pike" or the "Company") (NYSE: PIKE) to Court Square Capital Partners in partnership with J. Eric Pike, the Company's Chairman.
On August 4, 2014, Pike and Court Square Capital Partners entered into an agreement whereby Court Square Capital Partners and J. Eric Pike, the Company's Chairman and Chief Executive Officer, will acquire Pike. Under the terms of the agreement, Pike shareholders will receive $12.00 per share in cash for each share of Pike they own. Mr. Pike will remain as CEO in the newly formed private Company.
Morgan & Morgan's investigation concerns whether Pike's Board of Directors breached its fiduciary duties to Pike's shareholders. Additionally, the investigation will determine whether Pike's CEO, J. Eric Pike, took advantage of his position by structuring a deal that pays an unfair price to Pike shareholders. Pike stock traded at $12.57 in 2013 and one Wall Street analyst has a $13.00 per share price target.
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to securities fraud, the firm also practices in the areas of antitrust, personal injury, consumer protection, overtime, and product liability. All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people."
Attorney advertising. Prior results do not guarantee a similar outcome.
Morgan & Morgan
Peter Safirstein, Esq.
28 West 44th Street
New York, NY 10036
SOURCE Morgan & Morgan
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