NEW YORK, Nov 12, 2010 (BUSINESS WIRE) -- The Law Office of Joseph Klein is investigating the Board of Directors of Fushi Copperweld, Inc. (NasdaqGS: FSIN) for possible breaches of fiduciary duty and other violations of state law in connection with the receipt of a proposal from Fushi's Chairman and Chief Executive Officer, Mr. Li Fu ("Mr. Fu") and Abax Global Capital (Hong Kong) Limited ("Abax") to acquire all the outstanding shares of Common Stock of Fushi not currently owned by Mr. Fu and his affiliates. Under the terms of the proposed transaction, Fushi shareholders will receive $11.50 in cash for each share of Fushi common stock for a total transaction value of approximately $433.8 million.
The investigation concerns whether the Fushi Board of Directors breached their fiduciary duties to Fushi stockholders by failing to adequately shop the Company before entering into this transaction and whether Mr. Fu is underpaying for Fushi shares. At least one analyst set a price target for Fushi stock at $18.00 per share and Fushi common stock has trades as high as $12.76 as recently as April 9, 2010.
If you own common stock in Fushi and wish to obtain additional information, please contact Joseph Klein, Esq. directly, via email at firstname.lastname@example.org, by telephone at 718-947-0005, Toll Free: 877-STOK-180, or visit http://www.jkleinlawfirm.com/fushi-fsin.html.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation.
SOURCE: The Law Office of Joseph Klein CONTACT: The Law Office of Joseph Klein Joseph Klein, Esq. 1560 East 27th Street Brooklyn, NY 11229 Telephone: (718) 947-0005 Fax: (718) 799-1443 Toll Free: (877) STOK-180 (877-786-5180) E-Mail: email@example.com The Web: www.jkleinlawfirm.com Copyright Business Wire 2010 -0- KEYWORD: United States
New York INDUSTRY KEYWORD: Professional Services
Legal SUBJECT CODE: Merger/Acquisition