INVESTOR ALERT: The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of Schawk, Inc. Buyout Proposal
SMITHTOWN, NY, March 19, 2014:
The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of Schawk, Inc. (“Schawk”) (NYSE: SGK) for possible breaches of fiduciary duties and other violations of law in connection with Schawk’s agreement to be acquired by Matthews International Corporation (“Matthews”) in a transaction valued at approximately $577 million.
Under the terms of the agreement, public shareholders of Schawk will receive $11.80 in cash and 0.20582 shares of Matthews common stock for each share of Schawk they own. Based on Matthews’ closing stock price on March 14, 2014, Schawk shareholders would have received consideration valued at approximately $20.00 per share.
The investigation concerns whether Schawk’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to Schawk’s stockholders would be fair and adequate, and whether Schawk is acting in its stockholders’ best interests.