NEW YORK, Aug. 11, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Supreme Industries,
Inc. ("STS" or the "Company") (NYSE: STS) in connection with the
proposed acquisition of the Company by Wabash National Corporation.
Under the terms of the agreement, the Company's shareholders
will receive $21.00 in cash for each
STS share they own.
WeissLaw is investigating whether STS's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, STS shares traded at $22.00,
or $1.00 above the offer price, as
recently as April. Additionally, the Company recently
announced positive financial results. In its Q2 2017 earnings
call, Mark Weber, STS's President
and CEO, expressed great pleasure with the Company's handling of
its seasonal rental volume spike, which Mr. Weber noted "exceeded
[STS's] typical pattern with sales sequentially increasing 39% over
the first quarter." STS reported net sales of $95.9 million, setting a new record in quarterly
sales for the Company.
Given these facts, WeissLaw is investigating whether STS's Board
acted in the best interests of STS's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own STS shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/supreme-industries-inc/
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SOURCE WeissLaw LLP
