Andatee China Marine Fuel Services Corporation (NASDAQ: AMCF) shareholder litigation in connection with alleged unfair takeover offer
On November 23, 2011, Andatee China Marine Fuel Services Corporation ("Andatee" or the "Company") announced that the Company's Chief Executive Officer and majority shareholder, An Fengbin, has
proposed to acquire the remaining shares of the Company he does not currently own for $4.21 per share.
The investigation concerns, among other things, whether the consideration to be paid to Andatee shareholders is unfair, inadequate, and substantially below the fair or inherent value of Andatee. In particular, at least one analyst set a price target of $7.00 per share of Andatee stock.