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Tripp Levy Announces the Filing of a Lawsuit Concerning the Buyout of AmeriCredit by GM

^{Published on 2010-08-11 15:11:55 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Tripp Levy PLLC announces that a lawsuit has been filed on behalf of shareholders of AmeriCredit Corp. (NYSE: ACF) in connection with the proposed acquisition of AmeriCredit by General Motors (NYSE: GM) to acquire all of the outstanding shares of common stock of AmeriCredit for $24.50 per share in cash. In addition, AmeriCredita™s two largest shareholders, who own approx. 50% of all outstanding shares of common stock of AmeriCredit, and who has members on the Board of Directors of AmeriCredit, have voted in favor of the transaction.

AmeriCredita™s management team are expected to remain with the Company following completion of the transaction as well as vote in favor of the acquisition. Further, following completion of the transaction, GM said it is considering going public, which will further enhance AmeriCredita™s directors and management, including its two largest shareholders. This was confirmed by The New York Times which reported today that GM may in fact file for an initial public offering by August 13, 2010.

If you purchased shares of AmeriCredit common stock prior to July 22, 2010 and still hold any such shares, 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

Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States.

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