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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Fushi Copperweld, Inc. in Connection with a

^{Published on 2010-11-05 12:21:25 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Fushi Copperweld, Inc. (aFushia or the aCompanya) (NASDAQ:FSIN) related to a proposal from the Companya™s Chairman and Chief Executive Officer, Li Fu, and Abax Global Capital (Hong Kong) Limited on behalf of funds managed by it and its affiliates (aAbaxa), to take the Company private. The proposed cash transaction is valued at approximately $433 million.

Under the terms of the proposal, Li Fu and Abax would acquire all of the outstanding shares of Fushi common stock not currently owned by Li Fu and his affiliates for $11.50 per share in cash, subject to certain conditions. Li Fu and his affiliates own approximately 29.2% of Fushia™s common stock. The investigation concerns possible breaches of fiduciary duty and other violations of law related to consideration of the proposal by Fushia™s board of directors.

If you own shares of Fushi, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].