Investigation begins for AMCOL International

A law office recently began looking into the purchase of a chemicals manufacturer, as shareholders noted that there may be fiduciary duty breaches. There may be a class action lawsuit on the way due to these issues.

Law firm Robbins Arroyo, LLP, noted that it is investigating the board of directors at AMCOL International Corporation, after it agreed for the company to be purchased by Imerys S.A. The companies noted on Feb. 12, 2014, that an agreement was reached, and Imerys will begin to assume all shares owned by the company. This would give shareholders approximately $41 per share in cash.

The deal would give AMCOL International shareholders an 11.7 percent premium on the company's stock price on Feb. 11, 2014. Similar transactions in the past five years had an average one-day premium of approximately 27 percent. One analyst estimated that the deal's target price would be close to $43 per share.

This investigation will work to determine if the deal was necessary considering the solid financial performance underway. The transaction also prevents shareholders from being a part of growth in the future. AMCOL International had notable improvements during the fourth quarter, as sales and operating profit reached record highs.

Any shareholders of AMCOL International Corporation who are looking to learn more about the transaction and investigation can speak with the law firm. This can include any remedies and other rights-related issues. Darnell Donahue is available to field questions by telephone or email, while the firm has shareholder information on its website.

Second investigation underway
Another law office noted that it will investigate shareholders' claims regarding AMCOL International's business leaders. This also may become a securities class action lawsuit in the future.

Brodsky and Smith will look into Imerys' purchase of AMCOL International to see if the board of directors breached fiduciary duty, or violated any other state laws. The firm will also seek to determine whether or not the agreed upon price undervalues the company and prevents shareholders from earning enough money from the deal.

Stockholders are also welcome to speak with this law firm about the legal issues related to the investigation. Any questions should be forwarded to Jason Brodsky or Evan Smith. They can be reached by email, mail or telephone. Additionally, the law office's website provides further information on the process.