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| Protecting the Rights of Shareholders and Consumers |
GenTek, Inc. Securities Litigation
GenTek, Inc. (NasdaqGS: GETI) shareholder litigation over alleged unfair takeover
On September 28, 2009, GenTek, Inc. (“GenTek” or the “Company”) announced that it agreed to sell the Company to American
Securities LLC. Under the terms of the agreement, GenTek shareholders will receive $38.00 in cash for each share of GenTek
common stock they own.
For the second quarter 2009, the Company reported a 152% improvement in operating profit, as compared to the same prior-year
period, as well as strong cash flows that has resulted in $59.8 million in cash on hand at the close of the most recent quarter.
The investigation concerns whether the GenTek Board breached their fiduciary duties to GenTek shareholders by selling the
Company for an unfair price given the Company's strong performance.
On September 28, 2009, GenTek, Inc. (“GenTek” or the “Company”) announced that it agreed to sell the Company to American
Securities LLC. Under the terms of the agreement, GenTek shareholders will receive $38.00 in cash for each share of GenTek
common stock they own.
For the second quarter 2009, the Company reported a 152% improvement in operating profit, as compared to the same prior-year
period, as well as strong cash flows that has resulted in $59.8 million in cash on hand at the close of the most recent quarter.
The investigation concerns whether the GenTek Board breached their fiduciary duties to GenTek shareholders by selling the
Company for an unfair price given the Company's strong performance.
