Law Office of Brodsky & Smith, LLC Announces Investigation of Spartech Corporation
BALA CYNWYD, Pa., Oct. 24, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Spartech Corporation ("Spartech" or the "Company") (NYSE- SEH-News) relating to the proposed acquisition by PolyOne Corporation ("PolyOne") (NYSE: POL).
Under the terms of the transaction, Spartech shareholders will receive only $2.67 in cash and 0.3167 shares of PolyOne common stock for each share of Spartech stock they own. The transaction values Spartech stock at approximately $8.00 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Spartech for not acting in the Company's shareholders' best interests in connection with the sale process to PolyOne. The transaction may undervalue the Company as Spartech stock traded today at $8.38 per share and traded at $8.79 a share on February 11, 2011.
If you own shares of Spartech stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org visiting http://brodsky-smith.com/492-seh-spartech-corporation-.html, by calling toll free 877-LEGAL-90.
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SOURCE Brodsky & Smith, LLC