BUYOUT of ALCO STORES- Law Firm Seeks Higher Price For Shareholders
NEW YORK, July 26, 2013 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, is investigating the Sr. Management and Board of Directors of ALCO Stores, Inc. ("ALCO" or the "Company") (ALCS) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Argonne Capital Group LLC ("Argonne").
Under the terms of the transaction, ALCO shareholders will receive $14 in cash for each share of ALCO stock they own. However, the book value alone of the company is worth over $30 per share. The investigation concerns whether the ALCO management and board breached their fiduciary duties to stockholders by not engaging in a full and fair auction and process in selling the company to Argonne at this potentially unfairly low price.
If you own common stock in ALCO and wish to obtain additional information or discuss your rights, please contact us toll free at 1-877-772-3975 or email at firstname.lastname@example.org
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SOURCE Tripp Levy PLLC