Ryan & Maniskas, LLP Announces Update to its Investigation of Mac-Gray Corp.
WAYNE, Pa., Nov. 8, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP announces that Mac-Gray Corp. ("Mac-Gray" or the "Company") (NYSE: TUC) recently filed a preliminary proxy with the SEC, and we are investigating potential claims against the board of directors of Mac-Gray concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell the Company to CSC ServiceWorks, Inc. ("CSC") in a deal valued at approximately $524 million.
If you own shares of Mac-Gray and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/tuc. You may also email Mr. Maniskas at email@example.com.
Under the terms of the proposed transaction, Mac-Gray's stockholders will receive $21.25 for each share of Mac-Gray common stock they own.
The investigation concerns whether Mac-Gray's board of directors failed to adequately shop the Company and obtain the best possible value for Mac-Gray's shareholders before entering into an agreement with CSC.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. To learn more about the class action process, please visit: www.rmclasslaw.com.
SOURCE Ryan & Maniskas, LLP