NEW YORK, June 2, 2011 (GLOBE NEWSWIRE) -- Pomerantz Haudek Grossman & Gross LLP is investigating potential claims on behalf of investors of Stream Global Services, Inc. ("SGS" or the "Company") concerning the proposed acquisition of SGS by Trillium Capital LLC ("Trillium").
The investigation concerns whether the board of directors breached their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Trillium would purchase all outstanding shares and assume or replace the Company's $200 million high yield bonds due 2014. SGS shareholders would receive approximately $4.65 per common share in cash. However, certain inside investors of SGS (Ares Management, Providence Equity Partners and Ayala Corp or their affiliates), would be allowed to convert their current ownership of SGS to the privately held successor company, up to a maximum of 40% of the fully diluted share ownership. The terms of this proposed agreement would effectively exclude participation by minority shareholders.
SGS shareholders seeking more information about this acquisition are advised to contact Gustavo Bruckner, Esq. at gfbruckner@pomlaw.com or 212-661-1100 or toll free at 888-476-6529, ext. 302. Shareholders may also contact Rachelle R. Boyle at rrboyle@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Rachelle R. Boyle Pomerantz Haudek Grossman & Gross LLP 888-476-6529 (ext. 237) 212-661-1100 (ext. 237) rrboyle@pomlaw.com