Faruqi & Faruqi, LLP announces investigation related to the acquisition of AirTran Holdings, Inc.
27-Sep-2010 Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of AirTran Holdings, Inc. (“AirTran” or the “Company”) (NYSE: AAI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Southwest Airlines Co. (“Southwest”) (NYSE: LUV).
The proposed transaction offers AirTran shareholders to only receive $3.75 in cash and 0.321 shares of Southwest common stock for each share they own. According to Thomson/First Call, at least one financial analyst values AirTran's common stock at $11.00 per share. Request more information by clicking here: www.faruqilaw.com/airtran.
Whether the AirTran's Board of Directors breached their fiduciary duties to AirTran's stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues AirTran's shares and by how much this proposed transaction undervalues the Company to the detriment of AirTran shareholders are the key focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in AirTran and wish to obtain additional information, please visit us at www.faruqilaw.com/airtran or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.
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