Rigrodsky & Long, P.A. Investigates American Commercial Lines Inc. Buyout

  • Do you own American Commercial Lines Inc. common stock?
  • Did you purchase your shares prior to October 18, 2010?
  • Do you feel Platinum Equity's buyout of the Company is unfair?
  • Do you want to discuss your rights?

If the answer to these questions is "yes," please contact the deal lawyers at Rigrodsky & Long, P.A. ("R & L") today to schedule a FREE consultation. Just call us, or fill out our contact form so that we can call at your convenience. Your consultation will not create any obligation to use our services at any time.

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R & L is national law firm with decades of combined legal experience. R & L is investigating potential claims against the board of directors of American Commercial Lines Inc. concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired and taken private by an affiliate of Platinum Equity in a cash transaction valued at approximately $777 million.

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Rigrodsky & Long, P.A. Investigates American Commercial Lines Inc. Buyout

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of American Commercial Lines Inc. (“ACL” or the “Company”) (Nasdaq: ACLI) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired and taken private by an affiliate of Platinum Equity (“Platinum”) in a cash transaction valued at approximately $777 million.

Under the proposed agreement, ACL stockholders, other than GVI Holdings, Inc. and certain of its affiliates (“GVI”), will receive $33.00 in cash for each share of ACL common stock they hold. GVI will receive $31.25 in cash for each share of ACL common stock it holds if the transaction closes before December 31, 2010 and $33.00 per share thereafter. GVI owns approximately 25.26% of ACL’s outstanding common stock and has entered into a Voting Agreement to support the transaction.

The investigation concerns whether ACL’s board of directors failed to adequately shop the Company and obtain the best price possible for ACL’s shareholders before entering into the agreement with Platinum. Indeed, ACL stock closed at $33.31 on October 15, 2010 and according to Yahoo! Finance, at least one analyst has set a price target of $50.00 per share for ACL stock.

If you own the common stock of ACL and purchased your shares before October 18, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

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