Under the terms of the transaction, Pike shareholders will receive only $12.00 in cash for each share of Pike stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Pike for not acting in the Company's shareholders' best interests in connection with the sale process. The transaction may undervalue Pike and represents a loss or no real gain for many long-term Pike shareholders. For example, on May 3, 2013, shares of Pike traded at $15.68 per share and an analyst has set a price target of $13.00 per share for Pike stock.
If you own shares of Pike common stock and wish to discuss the legal ramifications of the investigation, 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 firstname.lastname@example.org, by visiting http://brodsky-smith.com/804-pike-pike-corporation.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.