Business & Finance
Business and Finance
Business and Finance
Thu, July 22, 2010 Kendall Law Group Investigates AmeriCredit Corp. Acquisition for Shareholders
DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], a national securities firm led by a former federal judge and a former U.S. Attorney, is investigating AmeriCredit Corp. (NYSE: ACF) for shareholders in connection with the proposed acquisition of the company by General Motors. The firma™s investigation seeks to determine whether AmeriCredit and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are an AmeriCredit shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].
"increased its relationships with dealers to 8,100 in its fiscal third quarter from 3,000 in the depths of the financial crisis in 2008."
On July 22, 2010, the companies announced that they had entered into an agreement for AmeriCredit to be acquired by GM in a transaction valued at approximately $3.5 billion. Under the terms of the agreement, AmeriCredit shareholders will receive $24.50 for each share of common stock held. Although GMa™s acquisition price represents an approximately 25% premium over AmeriCredita™s closing share price on Wednesday, AmeriCredit has traded for as much as $26.49 earlier this year. In addition, AmeriCredit has shown steady growth, reporting that aloan originations could total as much as $900 million for the fiscal fourth quarter ended June 30 up from $175 million a year earliera and that the company has aincreased its relationships with dealers to 8,100 in its fiscal third quarter from 3,000 in the depths of the financial crisis in 2008.a
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
