Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors of BlueLinx Holdings Inc. ("BlueLinx" or the "Company") (NYSE: BXC) in connection with Cerberus ABP Investor LLC ("Cerberus ABP"), an affiliate of Cerberus Capital Management, L.P., intent to acquire all outstanding publicly held shares of BlueLinx. Under the terms of the announced tender offer, BlueLinx shareholders will receive $3.40 per share in cash for each share of BlueLinx they own if the tender offer is completed.
Robbins Umeda LLP's investigation concerns whether the Board of Directors of BlueLinx undertook a fair process to obtain fair consideration for all shareholders of BlueLinx. As recently as April 2010, BlueLinx's stock price closed at high of $5.94, or 74.7% higher than Cerberus ABP's current offer. Moreover, multiple analysts have set price targets for the Company at $4.00-$5.00 per share.
If you are a shareholder of BlueLinx, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please go to http://www.robbinsumeda.com.
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Contacts:
Robbins Umeda LLP
Gregory E. Del Gaizo, 800-350-6003
info@robbinsumeda.com