Stull, Stull & Brody Announces Investigation on Behalf of Shareholders of Allied Capital Corporation
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Sat, 31 Oct 2009 00:37:27 GMT |
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Stull, Stull & Brody
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NEW YORK - (Business Wire) Attorney Advertising. Notice is hereby given that Stull, Stull & Brody has commenced an investigation on behalf of shareholders of Allied Capital Corporation (“Allied” or the “Company”) (NYSE: ALD) for possible breaches of fiduciary duty and other violations of state law in connection with an agreement by Allied’s Board of Directors to sell all of the Company’s outstanding shares of common stock at a price of $3.47 per share in stock to Ares Capital Corporation (“Ares”) (Nasdaq: ARCC). If you own the common stock of Allied and wish to obtain additional information about this matter, please contact Stull, Stull & Brody at the toll-free number listed below. Stull, Stull & Brody has litigated many class actions for violations of securities laws and breaches of fiduciary duties on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. The investigation concerns the price to be paid by Ares to Allied shareholders and the process by which Allied’s Board of Directors is addressing the transaction. Under the terms of the proposed transaction, Allied stockholders will receive 0.325 Ares shares for each Allied share owned, resulting in approximately 58.3 million Ares shares being issued in exchange for approximately 179.4 million outstanding Allied shares. Given that Allied’s stock was trading at $4.05 per share as recently as July 30, 2009, and at $4.80 per share as recently as January 6, 2009, the proposed transaction appears to be unfair to Allied’s shareholders. If you wish to discuss this matter or have any questions concerning this notice or your rights or interests with respect to this matter, please contact Aaron Brody, Esq. at Stull, Stull & Brody by calling 1-800-337-4983 or 1-212-687-7230, or by email to ssbny@aol.com or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. Attorney advertising. Prior results do not guarantee a similar outcome. Stull, Stull & Brody Aaron Brody, Esq. 1-800-337-4983 or 212-687-7230 ssbny@aol.com
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