The Law Office of Abe Shainberg Announces an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Wesco Financial Corp. in Connection with the Sale of the Company to Berkshire Hathaway - WSC

Published on Friday, 03 September 2010 10:44 Written by TradersHuddle Staff

NEW YORK-( Business Wire )-

The Law Office of Abe Shainberg is investigating the Board of Directors of Wesco Financial Corp. (AMEX: WSC) for possible breaches of fiduciary duty and other violations of state law in connection with the receipt of a proposal from Berkshire Hathaway Inc. (NYSE: BRK). Under the terms of the proposal, Berkshire Hathaway will purchase the 19.9% of Wesco shares it does not presently own in exchange for Berkshire Hathaway Class B shares and/or cash valued at the book value of Wesco shares. For the most recent quarter, the Company reported a book value of $352.66 per share.

The investigation concerns whether the Wesco Board of Directors breached their fiduciary duties to Wesco stockholders by failing to adequately shop the Company before entering into this transaction and whether Berkshire Hathaway is underpaying for Wesco shares. Wesco shares have traded as high as $407.66 as recently as April 29, 2010, and, for the most recent quarter, reported a book value of $352.66 per share.

If you own common stock in Wesco and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it. or by telephone at (212) 425-7286, or visit http://www.ashainberglaw.com/wesco.html.

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide.

The Law Office of Abe ShainbergAbe Shainberg, Esq., 212-425-7286Fax: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.