WAYNE, Pa., April 30, 2015 /PRNewswire/ -- Ryan & Maniskas, LLP is investigating potential claims against the board of directors of MCG Capital Corporation ("MCG Capital" or the "Company") (NASDAQ: MCGC) concerning possible breaches of fiduciary duty and other violations of law related to the Company's efforts to sell the Company to PennantPark Floating Rate Capital Ltd. ("PennantPark") in a transaction valued at approximately $175 million.
If you own shares of MCG Capital and would like to learn more about this class action 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/mcgc. You may also email Mr. Maniskas at [email protected].
Under the terms of the agreement, shareholders of MCG Capital will receive $4.521 in PennantPark shares and $0.226 per share in cash for each share of MCG Capital common stock owned.
Our investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of MCG Capital for not acting in the Company's shareholders' best interests in connection with the sale process.
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