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SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Steel Excel Inc. - SXCL

Donnerstag, 12.01.2017 20:15 von PR Newswire

PR Newswire

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not already owned by SPLP or any of its affiliated entities and which is validly tendered in the offer and not properly withdrawn, 0.712 SPLP preferred units, together with cash in lieu of any fractional SPLP preferred units, without interest and less any applicable withholding taxes (the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").

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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 or Juan E. Monteverde, Esq. either via e-mail at or by telephone at (212) 971-1341.

Juan E. Monteverde, Esq.
The Empire State Building
350 Fifth Ave. 59th Floor
New York, NY 10118
United States of America 
Tel: (212) 971-1341

Attorney Advertising. (C) 2016 Monteverde & Associates PC.  The law firm responsible for this advertisement is Monteverde & Associates PC (  Prior results do not guarantee a similar outcome with respect to any future matter. 

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SOURCE Monteverde & Associates PC