NEW YORK, Aug. 11, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Supreme Industries, Inc. ("STS" or the "Company") (NYSE: STS) in connection with the proposed acquisition of the Company by Wabash National Corporation. Under the terms of the agreement, the Company's shareholders will receive $21.00 in cash for each STS share they own.
WeissLaw is investigating whether STS's Board acted to maximize shareholder value prior to entering into the agreement. Notably, STS shares traded at $22.00, or $1.00 above the offer price, as recently as April. Additionally, the Company recently announced positive financial results. In its Q2 2017 earnings call, Mark Weber, STS's President and CEO, expressed great pleasure with the Company's handling of its seasonal rental volume spike, which Mr. Weber noted "exceeded [STS's] typical pattern with sales sequentially increasing 39% over the first quarter." STS reported net sales of $95.9 million, setting a new record in quarterly sales for the Company.
Given these facts, WeissLaw is investigating whether STS's Board acted in the best interests of STS's public shareholders to maximize shareholder value prior to entering into the agreement. If you own STS shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at email@example.com.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/supreme-industries-inc/
SOURCE WeissLaw LLP