N@N

Fushi Copperweld, Inc. Shareholder Investigation by Briscoe Law Firm Concerning the Going Private Proposal from Management

^{Published on 2010-11-05 05:10:37 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of [ Fushi Copperweld, Inc ]. (aFushi Copperwelda or aFSINa) (NASDAQ: FSIN) related to the proposed management buyout from Fushi Copperwelda™s Chairman and CEO, Li Fu, and Abax Global Capital (Hong Kong) Limited and affiliates.

The management buy-out proposal, which was announced on November 3, 2010, involves a going private transaction valued at approximately $433.8 million in which Mr. Fu and Abax propose to acquire all of the outstanding shares of Fushi Copperweld common stock not currently owned by Mr. Fu or his affiliates. Under the buyout proposal, Fushi Copperweld/FSIN shareholders will only receive $11.50 in cash for each share of Fushi Copperweld/FSIN common stock they hold. Currently, Mr. Fu and his affiliates own approximately 29.2% of Fushi Copperwelda™s common stock.

At least one analyst has projected that the true inherent value of Fushi Copperweld common stock may be as high as $18 per share. Further, in 2010 Fushi Copperweld stock was trading close to $13.00 per share. Based on the lack of an appreciable premium to shareholders, Fushi Copperwelda™s historical stock price, and other factors, the proposed transaction may significantly undervalue Fushi Copperweld/FSIN shares and not be fair to Fushi Copperweld shareholders. The investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Fushi Copperweld for approving this transaction and whether Fushi Copperwelda™s Board of Directors acted in the shareholdersa™ best interests.

If you currently own shares of Fushi Copperweld/FSIN and would like additional information regarding this investigation, or if you have information regarding the allegations involving this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.