Zeldes & Haeggquist, LLP, a shareholder and consumer rights litigation firm, has commenced an investigation into possible legal claims against the Board of Directors of MOD-PAC Corp. (“Mod-Pac”) (NASDAQ: MPAC). The investigation concerns possible breaches of fiduciary duties and other violations of law related to Mod-Pac’s entry into an agreement to be acquired by a group consisting of Mod-Pac’s President and Chief Executive Officer, Chairman of the Board, and their affiliates and associates (the “Buyer Group”).
Zeldes & Haeggquist’s investigation concerns whether Mod-Pac’s Board of Directors failed to adequately shop Mod-Pac to obtain the best possible value for Mod-Pac’s shareholders before entering into an agreement with the Buyer Group. Under the terms of the proposal, shareholders (excluding the Buyer Group) of Mod-Pac will receive $8.40 per share in cash.
If you own Mod-Pac stock, and purchased your shares before April 11, 2013, and would like additional information regarding this investigation, or if you have information regarding the matters under investigation, please contact attorneys Aaron M. Olsen or Amber L. Eck at 619-342-8000 or by email at email@example.com or firstname.lastname@example.org.