Rigrodsky & Long, P.A. Investigates American
Commercial Lines Inc. Buyout
October 18, 2010 11:36 AM Eastern Daylight Time
WILMINGTON, Del.--(EON: Enhanced Online News)--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 values at approximately $777 million. Click here to learn how to join the action:
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
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.
Attorney advertising. Prior results do not guarantee a similar outcome.
Rigrodsky & Long, P.A.
Seth D. Rigrodsky, Esquire
Noah R. Wortman, Case Development Director