DALLAS, Jan.16, 2012 /PRNewswire/ --Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating potential claims against the Board of Directors of Merisel, Inc. ("Merisel" or MSEL") (NYSE: MSEL.PK) concerning the board's receipt of an unsolicited going-private acquisition proposal from Saints Capital Granite, LP. Under the proposal, Saints Capital seeks to acquire the remaining shares of Merisel that it does not own for $1.35 per share.
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If you are an affected investor, and you want to learn more about the investigation or if you have information that you believe would be helpful to the determination of the fairness of the proposed transaction, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
According to a recent Form 8-K filed by Merisel with the U.S. Securities and Exchange Commission, Saints Capital, which currently holds 69.3% of Merisel's outstanding common stock and 100% of the outstanding shares of the company's Series A Preferred Stock, submitted a written proposal to acquire the remaining shares of Merisel's common stock for $1.35 per share. The investigation centers on whether Merisel's Board of Directors is acting in the shareholders' best interests, whether the board is properly negotiating a higher share price for the shareholders, and whether the board has employed an adequate process to review and act on the proposed transaction.
"Because Saints Capital is Merisel's majority and controlling shareholder, our investigation is focused on whether the price offered by Saints Capital is below the inherent value of Merisel/MSEL.PK stock. Further, we are concerned whether Merisel's Board of Directors is doing everything possible to maximize shareholder value and negotiate a better price for the shareholders," said shareholder rights attorney Willie Briscoe.
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
SOURCE Powers Taylor, LLP
