NEW YORK, Jan. 22, 2015 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Courier Corp. ("Courier" or the "Company") (Nasdaq: CRRC) for potential breaches of fiduciary duties in connection with the sale of the Company to Quad/Graphics, Inc. ("Quad/Graphics") (NYSE: QUAD) for approximately $260 million. Courier shareholders will have the option to receive either $20.50 in cash or 0.9301 shares of Quad common stock for each share of Company stock they own. Based on Quad/Graphics closing price on January 16, 2015, the stock value of the deal would only be $19.49 per share. Moreover, at least one analyst has set a price target of $21.00 for Courier shares.
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The investigation focuses on whether Courier's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Courier's shareholders.
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If you own common stock in Courier and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/CRRC or contact Juan E. Monteverde, Esq. either via e-mail at [email protected] or by telephone at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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