SAN DIEGO--(BUSINESS WIRE)--Robbins Umeda LLP, a shareholder rights litigation firm, is investigating possible breaches of fiduciary duty and other violations of state law by members of the board of directors of The Lubrizol Corporation (NYSE: LZ) in connection with their efforts to sell Lubrizol to Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B).
If you own stock in Lubrizol and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsumeda.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
On March 14, 2011, Berkshire Hathaway announced it has entered into a definitive merger agreement to purchase Lubrizol through an all-cash tender offer. If the transaction is completed, Lubrizol shareholders will receive $135 in cash for each share of Lubrizol common stock they hold. The tender offer is expected to close during the third quarter of 2011.
The investigation seeks to determine whether Lubrizol's board of directors undertook a fair process to obtain maximum value for its shareholders. Notably, analysts have set a target price for Lubrizol as high as $148 per share. Furthermore, on February 2, 2011, Lubrizol reported net income for the fourth quarter 2010 that beat Wall Street expectations. Lubrizol posted revenues of $1.317 billion compared to a Wall Street consensus of $1.294 billion and diluted earnings per share of $2.45 compared to a consensus of $2.20.
Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action lawsuits. The law firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career shareholder rights attorneys. Robbins Umeda LLP has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to http://www.robbinsumeda.com.
Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/lubrizol-corporation/
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