20.12.2011

RSC sale may be investigated

New York based law firm Levi & Korsinsky says that it is investigating the board of directors of RSC Holdings for possible breaches of fiduciary duty and other violations of state law in connection with the recent agreement to sell the company to United Rentals.
Click here to see United Rentals acquires RSC
The investigation concerns whether the RSC directors breached their fiduciary duties to the shareholders, by failing to adequately ‘shop the company around’ before entering into the transaction and whether United is underpaying for the shares, thus unlawfully harming RSC stockholders.

Levi & Korsinsky specialises in securities and shareholder litigation and is seeking to sign up RSC shareholders who think there might be case to answer.

Vertikal Comment

While this deal looks as though it is done and it is unlikely that a significant number of shareholders will have an appetite to join the law firms campaign, it has some way to go yet. The fat lady is not on the stage yet - watch this space