BALA CYNWYD, Pa., April 11, 2013 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of MOD-PAC Corp. ("MOD-PAC" or the "Company") (Nasdaq: MPAC) relating to the proposed going private acquisition by the Company's President, CEO, Chairman, and their affiliates and associates.
Under the terms of the transaction, MOD-PAC shareholders will receive only $8.40 in cash for each share of MOD-PAC stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of MOD-PAC for not acting in the Company's shareholders' best interests in connection with the sale process. The focus of the investigation is on potential conflicts of interests and if this may have resulted in MOD-PAC shareholders receiving inadequate compensation for their stock. For example MOD-PAC stock traded at $8.60 a share as recently as March 5, 2013.
If you own shares of MOD-PAC 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 [email protected], visiting http://brodsky-smith.com/566-mpac-mod-pac-corp.html, or by calling toll free 877-LEGAL-90.
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SOURCE Brodsky & Smith, LLC