NEW YORK, Dec. 9, 2016 /PRNewswire-USNewswire/ -- Bernstein Liebhard LLP is investigating whether the Board of Directors of Steel Excel Inc. ("Steel Excel" or the "Company") (NASDAQ: SXCL) breached their fiduciary duties to the Company's minority shareholders.
Steel Partners Holdings L.P. ("Steel Partners") (NYSE: SPLP) currently owns about 64% of Steel Excel. On December 7, 2016, Steel Partners announced that it had reached an agreement (the "Agreement") with Steel Excel to commence an exchange offer to acquire all of the outstanding shares of Steel Excel's common stock not owned by Steel Partners or any of its affiliated entities for $17.80 per share in preferred units of Steel Partners. Steel Excel's Board of Directors has approved the Agreement.
If you are interested in discussing your rights as a Steel Excel minority shareholder, and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or firstname.lastname@example.org.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3.5 billion for its clients. The Firm has been named to the National Law Journal's "Plaintiffs' Hot List" thirteen times.
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SOURCE Bernstein Liebhard LLP