Wednesday, April 10, 2024

Alloy Steel Court Settlement

When Alloy Steel's majority owner decided to take the company private at $2.55 per share, I was not pleased and suspected a lot of wrongdoing. So, we sued them. Three years later, we've come to a settlement that was approved by the court.

AYSI's buyers have kicked in another $9.5 million, which represents about an additional $2 per share, to make us go away. I worked specifically with attorneys Donald Enright and Jordan Cafritz, and I'm grateful to the whole team at Levi & Korsinsky for doing great work to get this result. I highly recommend you give them a call if you find yourself in a similar situation.

You can read more about the settlement here.


Jaap said...

Awesome! Congrats Saj!

Anonymous said...

Any idea when settlement will be dispersed to shareholders?

Saj Karsan said...

If I recall correctly, in the summer, but don't quote me on that.