The Rosen Law Firm Announces Investigation of Potential Breaches of Fiduciary Duty by the Board of Erickson Air-Crane Incorporated – EAC
NEW YORK--(BUSINESS WIRE)-- The Rosen Law Firm announces that it is investigating the Board of Directors of Erickson Air-Crane Incorporated (Nasdaq: EAC ) for possible breaches of fiduciary duty and other violations of state law in connection with its recent acquisition of Evergreen Helicopters, Inc.
Erickson is a leading global provider of aviation services to commercial and government customers. On June 13, 2013, a report was published on SeekingAlpha.com asserting that ZM Funds, the controlling shareholder of Erickson, orchestrated the recent purchase of Evergreen Helicopters, a struggling helicopter operator. This effectively allowed ZM Funds to exchange approximately $120 million in distressed debt of Evergreen Helicopters for millions of more valuable shares of Erickson. A recent filing with the U.S. Securities and Exchange Commission by Erickson indicates that ZM Funds intends to sell all of its remaining shares in Erickson. The investigation relates to whether Erickson’s Board breached its fiduciary duties in connection with the acquisition of Evergreen Helicopters.
If you own Erickson Air-Crane common stock and purchased it before June 13, 2013, please visit the website at http://rosenlegal.com for more information. You may also contact Phillip Kim or Kevin Chan of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at email@example.com or firstname.lastname@example.org.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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Laurence Rosen, Esq.
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The Rosen Law Firm P.A.
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