SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces an Investigation of Swift Transportation Company -SWFT
BALA CYNWYD, April 12, 2017 /Access Wire/ – Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Swift Transportation Company (“Swift” or “the Company”) (NYSE- SWFT-News) for possible breaches of fiduciary duty and other violations of state law in connection with the merger of the Company with Knight Transportation (“Knight”).
Under the terms of the transaction, Swift shareholders will receive only 0.72 of a share of Knight for each share of Swift stock they own. The transaction values Swift at only approximately $22.07 per share. The investigation concerns whether the Board of Swift breached their fiduciary duties to shareholders and whether Knight is underpaying for the Company. The transaction may undervalue the Company and would result in a loss or no real gain for many Swift shareholders. For example, shares of Swift stock traded at $26.57 per share on December 7, 2016 and the price being paid by Knight is below an analyst price target of $30.00 per share.
If you own shares of Swift stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.