Stull, Stull & Brody Announces Investigation on Behalf of Shareholders of GenTek, Inc.
Attorney Advertising. Notice is hereby given that Stull, Stull & Brody
has commenced an investigation on behalf of shareholders of GenTek, Inc.
(“GenTek” or the “Company”) (Nasdaq: GETI) for possible breaches of
fiduciary duty and other violations of state law in connection with an
agreement by the Company’s Board of Directors to sell all of the
Company’s outstanding shares of common stock to a wholly-owned
subsidiary of American Securities LLC at a price of $38 per share in
cash.
If you own common stock of GenTek and wish to obtain additional
information about this matter, please contact Stull, Stull & Brody at
the toll-free number listed below. Stull, Stull & Brody has litigated
many class actions for violations of securities laws and breaches of
fiduciary duties on behalf of defrauded investors over the past 40 years
and has obtained court approval of substantial settlements on numerous
occasions.
The current investigation concerns the proposed price offered to
shareholders and the process by which GenTek’s Board of Directors is
addressing the proposed transaction. For the second quarter 2009, the
Company reported a 152% improvement in operating profit, as compared to
the same prior-year period, as well as strong cash flows that have
resulted in $59.8 million in cash on hand at the close of the most
recent quarter. The focus of the investigation is on whether the
GenTek’s Board of Directors breached their fiduciary duties to GenTek’s
shareholders by agreeing to sell the Company at an unfair price and by
agreeing to a $10 million termination fee that will all but ensure that
no superior offer will be forthcoming.
If you wish to discuss this matter or have any questions concerning this
notice or your rights or interests with respect to this matter, please
contact Aaron Brody, Esq. at Stull, Stull & Brody by calling
1-800-337-4983 or 1-212-687-7230, or by email to ssbny@aol.com
or by writing to Stull, Stull & Brody, 6 East 45th
Street, New York, NY 10017.
Attorney advertising. Prior results do not guarantee a similar outcome.
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