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12.01.2017 20:15
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SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Steel Excel Inc. - SXCL
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PR Newswire
NEW YORK, Jan. 11, 2017
NEW YORK, Jan. 11, 2017 /PRNewswire/ -- Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a boutique securities firm headquartered at the Empire State Building in New York City, is investigating Steel Excel Inc. ("Steel Excel" or the "Company")(OTC: SXCL) and its Board of Directors for potential federal law violations and/or breaches of fiduciary duties in connection the sale of the Company to Steel Partners Holdings LP ("SPLP")(the "Proposed Transaction"). Under the terms of the agreement, SPLP is offering to exchange for each outstanding share of Steel Excel common stock not already owned by SPLP or any of its affiliated entities and which is validly tendered in the offer and not properly withdrawn, 0.712 SPLP preferred units, together with cash in lieu of any fractional SPLP preferred units, without interest and less any applicable withholding taxes (the "transaction consideration").
Click here for more information: www.monteverdelaw.com/investigations. It is free and there is no cost or obligation to you.
The investigation focuses on whether Steel Excel and its Board has violated federal laws and/or breached their fiduciary duties to the Company's stockholders by 1) failing to conduct a fair sales process 2) whether transaction consideration is insufficient and by how much and 3) failing to disclose all material information in connection with the Proposed Transaction.
Monteverde & Associates PC is a boutique class action securities and consumer litigation law firm committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates PC lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct.
If you own common stock in Steel Excel and wish to obtain additional information and protect your investments free of charge, please visit us at www.monteverdelaw.com/investigations or Juan E. Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.
Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. 59th Floor
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341
Attorney Advertising. (C) 2016 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com). Prior results do not guarantee a similar outcome with respect to any future matter.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-monteverde--associates-pc-announces-an-investigation-of-steel-excel-inc---sxcl-300390405.html
SOURCE Monteverde & Associates PC
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