Chimicles & Tikellis LLP Investigates and Brings Claims Challenging Proposed Recapitalization of Builders FirstSource, Inc.
2009年9月15日 - 6:14AM
PRニュース・ワイアー (英語)
WILMINGTON, Del., Sept. 14 /PRNewswire/ -- Chimicles & Tikellis
LLP has initiated an investigation of, and together with Barrack,
Rodos and Bacine has filed, claims against the board of directors
of Builders FirstSource, Inc. ("Builders FirstSource" or the
"Company," Nasdaq: BLDR) and the controlling stockholders of
Builders FirstSource, JLL Partners, Inc. ("JLL") and Warburg Pincus
LLC ("Warburg Pincus"), in connection with JLL's and Warburg
Pincus' September 1, 2009 announcement of their recapitalization
plan for Builders FirstSource. JLL and Warburg Pincus collectively
own 49.9% of the common stock of Builders FirstSource and $98
million of the Company's $275 million debt issuance, which is
slated to mature in 2012. JLL and Warburg Pincus have proposed a
recapitalization pursuant to which they would swap their
debt-holdings for common stock valued at $2 per share, which would
result in more-than doubling the number of shares of common stock
outstanding. On the day the proposal was made, Builders FirstSource
stock dropped from $7.69 to $4.98 per share, and later reached a
nadir of $4.27 per share on September 3, 2009. As part of the
recapitalization, the other debt-holders of Builders FirstSource
would be permitted to exchange their notes for common stock priced
at $2 per share, for new notes at reduced par value maturing in
2017 or for a combination of the two. Chimicles & Tikellis LLP
has extensive experience litigating claims on behalf of
stockholders and their companies in matters involving fiduciary
duties of directors and controlling stockholders of Delaware
corporations such as Builders FirstSource. If you are a stockholder
of Builders FirstSource and would like to discuss the potential
claims, your legal rights or the proposed recapitalization
involving Builders FirstSource in greater detail, please contact
Robert J. Kriner, Jr., Chimicles & Tikellis LLP, 222 Delaware
Avenue, Suite 1100, P.O. Box 1035, Wilmington, DE 19899, (302)
656-2500, . DATASOURCE: Chimicles & Tikellis LLP CONTACT:
Robert J. Kriner, Jr., Chimicles & Tikellis LLP,
+1-302-656-2500, Web Site: http://www.chimicles.com/
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