PHILADELPHIA, Aug. 9, 2023 /PRNewswire/ -- Kaskela Law LLC announces that it is investigating the fairness of the proposed buyout of Heritage-Crystal Clean, Inc. (Nasdaq: HCCI) ("Crystal Clean") shareholders by private equity firm J.F. Lehman & Company ("Lehman") at $45.50 per share.

(PRNewsfoto/Kaskela Law LLC)

The $45.50 per share buyout price appears to undervalue Crystal Clean's shares.  For example, at the time the proposed buyout was negotiated and announced, several stock analysts had assigned price targets on Crystal Clean's shares well above the $45.50 per share buyout price, including one analyst who recently increased the price target on the shares from $50.00 per share to $54.00 per share.

The investigation has uncovered significant potential conflicts of interest in the proposed buyout, and seeks to determine (i) whether $45.50 per share represents maximum achievable cash consideration for Crystal Clean's shareholders, and (ii) whether Crystal Clean's officers and/or directors breached their fiduciary duties or violated the securities laws by agreeing to sell the company to Lehman at just $45.50 per share.

Crystal Clean shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email (skaskela@kaskelalaw.com / abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/heritage-crystal-clean/ , for additional information about this investigation and their legal rights and options.

Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.

CONTACT:

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com

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SOURCE Kaskela Law LLC