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Wolf Haldenstein Investigating AmeriCredit Corporation Board

^{Published on 2010-07-22 10:20:38 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Attorney Advertising. The law firm of Wolf Haldenstein Adler Freeman & Herz LLP is investigating possible breaches of fiduciary duty by the Board of Directors of AmeriCredit Corporation (aAmeriCredita or the aCompanya) (NYSE:ACF) arising out of the proposed acquisition of AmeriCredit by General Motors Corporation (aGMa).

On Thursday, July 22, 2010, GM and AmeriCredit announced that GM will acquire AmeriCredit pursuant to an all cash offer. Under the terms of the agreement, AmeriCredit stockholders will receive cash of $24.50 in exchange for each share of AmeriCredit common stock.

Two of the companya™s largest shareholders, owning nearly 50% of the stock, have representatives on AmeriCredita™s Board who voted for the transaction. It was also announced that the current management team would remain. Additionally, the companya™s stock was projected by at least one analyst to reach $26. The Company may not have adequately shopped itself before entering into this transaction and, pursuant to this proposed transaction, GM may be underpaying for AmeriCredit, thus unlawfully harming AmeriCredit shareholders.

Wolf Haldenstein has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in U.S. federal and state courts. Please visit the Wolf Haldenstein website (http://www.whafh.com) for more information about the firm.

If you own AmeriCredit common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.