NEW YORK, Aug. 27, 2020 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of BMC Stock Holdings, Inc. (“BMCH” or the “Company”) (NYSE: BMCH) in connection with the proposed acquisition of the Company by Builders FirstSource, Inc. (“BLDR”) (NASDAQ: BLDR). Under the terms of the merger agreement, BMCH shareholders will receive 1.3125 BLDR shares for each share of BMCH common stock they own, representing implied per-share merger consideration of $36.63 based upon BLDR’s August 26, 2020 closing price of $27.91. At closing, current BMCH shareholders will only own a 43% stake in the new entity.
If you own BMCH shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether BMCH’s board acted in the best interest of BMCH’s public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of BLDR, and whether the deal’s equity split is fair to BMCH shareholders. Notably, it appears that the Company’s CEO Dave Flitman has secured employment for himself upon completion of the transaction, calling into doubt whether the negotiations with respect to this transaction were truly arm’s length.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
View original content to download multimedia:http://www.prnewswire.com/news-releases/shareholder-alert-weisslaw-llp-investigates-bmc-stock-holdings-inc-301120076.html
SOURCE WeissLaw LLP