From the Wires
Law Office of Brodsky & Smith, LLC Announces Investigation of WMS Industries, Inc.
By: PR Newswire
Feb. 11, 2013 09:00 PM
BALA CYNWYD, Pa., Feb. 11, 2013 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of WMS Industries, Inc. ("WMS" or the "Company") (NYSE: WMS) relating to the proposed acquisition by Scientific Games Corporation. ("SGMS").
Under the terms of the transaction, WMS shareholders will receive only $26.00 in cash for each share of WMS stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of WMS for not acting in the Company's shareholders' best interests in connection with the sale process to SGMS. The focus of the investigation is whether the WMS Board of Directors breached their fiduciary duties by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction. The transaction will result in a loss for many long term shareholders as shares of WMS stock traded at $43.02 a share on February 14, 2011.
If you own shares of WMS 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 firstname.lastname@example.org visiting http://brodsky-smith.com/541-wms-wms-industries-inc.html, by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC
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