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Law Firm Investigating WCA Waste Sale
1 Min Read
A law firm is investigating WCA Waste Corp.’s board of directors for potential breaches of fiduciary duties to stockholders concerning the sale of the company to Macquarie Infrastructure Partners II (MIP II).
New York-based Faruqi & Faruqi, LLP said in a news release it is investigating whether Houston-based WCA’s directors failed to conduct an adequate and fair sales process before agreeing to the proposed transaction, if the deal undervalues WCA's shares and if so by how much it undervalues the company.
MIP II announced Dec. 21 it is buying WCA for $6.50 per common share for a total value of about $526 million.
WCA company officials were not immediately available for comment.
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