The Law Office of Robbins Umeda LLP Announces an Investigation of the Acquisition of Tara Gold Resources Corporation by Tara Minerals Corporation
13.09.2010 | Business Wire
Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors ('Board') of Tara Gold Resources Corporation ('Tara Gold' or the 'Company') (Pink Sheets: TRGD) in connection with their efforts to sell Tara Gold to Tara Minerals Corporation ('Tara Minerals') (OTCBB: TARM). If the transaction is completed, Tara Gold shareholders will receive 1 share of Tara Mineral common stock in exchange for each Tara Gold common stock they own, for an implied value of $0.81 per share based on Tara Gold's closing price on September 10, 2010. The transaction is expected to be completed this year.Robbins Umeda LLP's investigation concerns whether Tara Gold's Board undertook a fair process to obtain fair consideration for all shareholders of Tara Gold. Specifically, our investigation concerns whether the members of the Company's Board breached their fiduciary duties to Tara Gold shareholders by failing to adequately shop the Company before entering into the transaction with Tara Mineral. Notably, two members of Tara Gold's Board are also on Tara Mineral's Board of Directors.
If you are a shareholder of Tara Gold, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please go to Robbins Umeda LLP.
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Robbins Umeda LLP
Gregory E. Del Gaizo, 800-350-6003
info@robbinsumeda.com
