Morgan & Morgan Announces That Class Actions Have Been Filed on Behalf of Investors in Boise Inc. -- BZ
NEW YORK, Sept. 27, 2013 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that class actions have been filed in the Court of Chancery of the State of Delaware against the Board of Directors of Boise Inc. (NYSE:BZ) ("Boise" or the "Company") alleging breaches of fiduciary duties related to the Company's entry into an agreement to be acquired by Packaging Corporation of America ("PKG") in a transaction valued at approximately $1.9 billion
The complaints allege that the Boise Board of Directors breached their fiduciary duties to stockholders to act in the best interest of Boise shareholders by not securing a better deal for investors.
Under the terms of the agreement, shareholders of Boise will receive $12.55 per share in cash for each share of Boise they own.
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