NEW YORK, Oct. 15, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Mac-Gray Corporation ("Mac-Gray" or the "Company") (NYSE: TUC) (ISIN: US5541531068) (CUSIP: 554153106) concerning the proposed acquisition of Mac-Gray by CSC Fenway, Inc., a wholly-owned subsidiary of CSC ServiceWorks, Inc., in a transaction valued at approximately $524 million.
The investigation concerns whether the Mac-Gray directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Mac-Gray shareholders will receive $21.25 per share in cash for each share of Mac-Gray common stock. However, the Share Price to EBITDA and Book Value multiples are below the averages of comparable transactions, and synergies may not be fully reflected in the offered price.
Mac-Gray shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the following companies: Hilltop Community Bancorp, Inc.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
212-661-1100 ext. 237
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP