August 26, 2013
Bernstein Liebhard LLP is investigating whether the Board of Directors of TMS International Corp. (“TMS” or the “Company”) (NYSE: TMS) breached its fiduciary duty to its shareholders in agreeing to sell TMS to The Pritzker Organization, LLC.
Under the terms of the agreement, TMS shareholders will receive $17.50 in cash for each share of TMS Class A common stock and Class B common stock they own. The investigation is focused on the potential unfairness of the price to TMS shareholders and the process by which the TMS Board of Directors considered and approved the transaction.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last ten years.