BALA CYNWYD, Pa., Sept. 1, 2012 /PRNewswire/ --Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of TPC Group, Inc. ("TPC" or the "Company") (Nasdaq- TPCG) relating to the proposed acquisition by First Reserve Corporation and SK Capital Partners. ("First Reserve").
Under the terms of the transaction, TPC shareholders will receive only $40.00 in cash for each share of TPC stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of TPC for not acting in the Company's shareholders' best interests in connection with the sale process to First Reserve. The transaction may undervalue the Company as TPC stock traded at $47.03 a share on March 16, 2012 and traded at $42.64 a share as recently as May 8, 2012. In addition, an analyst has set a price target on TPC stock at $55.00 per share.
If you own shares of TPC stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com visiting http://brodsky-smith.com/469-tpcg-tpc-group-inc.html, or by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC
