Law Offices of Howard G. Smith announces investigation on behalf of shareholders of AirTran Holdings
27-Sep-2010 Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of AirTran Holdings, Inc. (“AirTran” or the “Company”) (NYSE:AAI), the parent company of AirTran Airways, related to the Company’s agreement to be acquired by Southwest Airlines Co. (“Southwest”). The proposed cash-and-stock transaction is valued at approximately $1.37 billion.
Under the terms of the definitive merger agreement entered into by the parties, AirTran shareholders will, for each share of AirTran common stock they own, receive a combination of Southwest common stock and cash valued between $7.25 and $7.75, subject to certain adjustments. At least $3.75 of the merger consideration will be in cash. AirTran's board of directors has unanimously approved the proposed transaction. The transaction is expected to be completed by the first half of 2011. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by AirTran's board of directors.
If you are a shareholder of AirTran, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com