Ademi & O'Reilly, LLP Investigates Possible Breaches of Fiduciary Duty by the Board of WMS Industries Inc. and Whether it Has Obtained a Fair and Reasonable Price for WMS Given Its Current Financial Condition and Prospects
MILWAUKEE, Jan 31, 2013 (Menafn - GLOBE NEWSWIRE via COMTEX) --We are investigating the Board of Directors of WMS for possible breaches of fiduciary duty and other violations of state law in connection with the sale of WMS to Scientific Games Corporation.
Click here to learn how to join the action: http://www.ademilaw.com/case/wms-industries-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
WMS shareholders will receive 26 for each share in the transaction. The merger agreement unreasonably limits prospective bids for WMS by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should WMS receive and accept a superior bid. WMS insiders, their affiliates and other majority shareholders own significant voting stock of WMS, and will receive millions of dollars as part of change of control arrangements, and therefore can unduly influence a sale of WMS not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of WMS's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for WMS given its current financial condition and prospects.
If you own common stock in WMS and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/wms-industries-inc.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Ademi & O'Reilly, LLP
Guri Ademi
3620 East Layton Ave.
Cudahy, WI 53110
Toll Free: (866) 264-3995
Fax: (414) 482-8001
www.ademilaw.com
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