BALA CYNWYD, PA / ACCESSWIRE / February 22, 2021 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Cooper Tire & Rubber Company ("Cooper Tire" or the "Company") (NYSE:CTB) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by The Goodyear Tire & Rubber Company ("Goodyear) (NASDAQ:GT). Under the terms of the agreement, Cooper Tire shareholders will receive $41.75 per share in cash and a fixed exchange ratio of 0.907 shares of Goodyear common stock per Cooper Tire share for a total equity value of approximately $2.8 billion. Based on Goodyear's closing stock price on February 19, 2021, the last trading day prior to the announcement, the implied cash and stock consideration to be received by Cooper Tire shareholders is $54.36 per share,
The investigation concerns whether the Cooper Tire Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Goodyear is paying too little for the Company.
If you own shares of Cooper Tire's 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 Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/cooper-tire-rubber-company-nyse-ctb/, or call toll free 855-576-4847.
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.
CONTACT:
Brodsky & Smith, LLC
Two Bala Plaza Suite 805
Bala Cynwyd, PA 19004
855-576-4847
SOURCE: Brodsky & Smith, LLC