NEW YORK, April 11, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of MOD-PAC Corp. ("MOD-PAC" or the "Company") (NASDAQ: MPAC) (ISIN: US6074951087) (CUSIP: 607495108) concerning the proposed acquisition of MOD-PAC Corp. by Kevin T. Keane, Chairman of the Company, and Daniel G. Kean, President and Chief Executive Officer of the Company, and their affiliates and associate (the "Buyer Group") through Rosalia Capital LLC, an entity formed for the purposes of the acquisition.
The investigation concerns whether the MOD-PAC directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, MOD-PAC shareholders will be entitled to receive $8.40 per share of the Company's Common Stock and Class B Stock, in cash, upon the completion of the transaction.
MOD-PAC shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at [email protected] or 212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the following companies: Arbitron Inc., Net1 Ueps Technologies, Inc., Universal Technical Institute, Inc., Telanetix, Inc., Somerset Hills Bancorp, BioClinica Inc., and Gardner Denver, 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.
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP