BFA Law is investigating the going private merger whereby Penske Automotive Group, Inc. (NYSE: PAG) is being taken private by its controlling stockholders, Roger Penske and Mitsui & Co., Ltd. Penske is incorporated in Delaware.
If you are a current Penske shareholder, you are encouraged to submit your information using the form on this page. You may also email adam@bfalaw.com or call 212.789.3619.
Why is the Penske Transaction being Investigated?
Penske Automotive Group, Inc. (“Penske”) is a company that is controlled by two majority stockholders—Roger Penske (via “Penske Corporation”) and Mitsui & Co., Ltd. (“Mitsui”). Those two stockholders alone control 72.3% of the company’s voting power.
Penske’s initial disclosures have reported that the company utilized a special committee to evaluate the merger and that the merger is conditioned on the approval of the public stockholders at an upcoming stockholder vote. Penske has not yet disclosed the full details of the process that resulted in the merger, and key questions about whether those protective mechanisms were effective remain unanswered.
BFA is investigating whether the terms of the merger comply with Delaware law, including whether the $212.00 per share price is a fair price for the public stockholders’ shares of Penske stock.
How Do I Submit My Information?
If you are a current holder of Penske stock, you are encouraged to submit your information using the form on this page. You may also email adam@bfalaw.com or call 212.789.3619.
You can also contact:
Adam McCall
adam@bfalaw.com
212.789.3619
All representation is on a contingency fee basis; there is no cost to you. Shareholders are not responsible for any court costs or expenses of any class action lawsuit. The firm will seek court approval for any potential fees and expenses.
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BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS.
BFA attorneys have been named “Elite Trial Lawyers” by the National Law Journal, “Litigation Stars” by Benchmark Litigation, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360, and “SuperLawyers” by Thomson Reuters.
Most recently, The Legal 500 awarded BFA the most client satisfaction accolades of any plaintiff’s securities litigation law firm, with clients noting: “[t]here is no better service provider in the practice area,” “[t]he interest of the client is always front and center,” and “[t]here isn’t a better firm in this space.” One testimonial described the firm as “nimble and entrepreneurial,” with a “relentless focus on adding value for clients.”
Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.
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