Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Federal-Mogul Holdings Corporation (NASDAQGS: FDML) breached their fiduciary duties in connection with Icahn Enterprises, L.P.'s tender offer to acquire all outstanding shares of the company. Federal-Mogul supplies various components, accessories, and systems to the manufacturers and servicers of vehicles and equipment worldwide.
View this press release on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/federal-mogul-holdings-corp
Federal-Mogul Agrees to Potentially Unfair Tender Offer
On September 6, 2016, Federal-Mogul announced that its board of directors agreed to sell the company to Icahn Enterprises through a tender offer at a price of just $9.25, only a one cent premium over the prior day's closing price. Notably, Icahn Enterprises currently holds 82% of Federal-Mogul's stock. Further, more than half of Federal-Mogul's board of directors is or has been associated with various Icahn branded entities.
Federal-Mogul Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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