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Kendall Law Group Investigates Fushi Copperweld, Inc. for Shareholders

^{Published on 2010-11-03 18:00:33 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], led by former federal judge Joe Kendall, is investigating Fushi Copperweld, Inc. (NASDAQ: FSIN) for shareholders in connection with the proposed acquisition by its Chairman and Chief Executive Officer, Li Fu and Abax Global Capital Limited on behalf of funds managed by it and its affiliates. The national securities firma™s investigation seeks to determine whether Fushi and its Board breached their fiduciary duties in connection to the takeover proposal. If you are a Fushi 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 ].

On November 3, 2010, Fushi announced the receipt of a proposal letter under which Fushi would be acquired by Fu and Abax. Fu and Abax would acquire all of the outstanding shares of common stock of Fushi not currently owned by Fu and his affiliates in a transaction that values the company at $433.8 million. Under the terms of the proposal, Fushi stockholders would receive $11.50 in cash for each share of Fushi/FSIN common stock. According to Thompson/First Call, analysts have set a price target as high as $18.00 and as low as $13.00 per share for Fushi stock. In addition, Fushi stock was trading for close to $13.00 per share earlier this year. Due to these factors, the firm believes the transaction significantly undervalues the company.

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.