The Law Office of Abe Shainberg Launches an Investigation into the Board of Fushi Copperweld

Nov. 4, 2010 - PRLog -- The Law Office of Abe Shainberg is investigating the Board of Directors of Fushi Copperweld, Inc. (NasdaqGS: FSIN) for possible breaches of fiduciary duty and other violations of state law in connection with the receipt of a proposal from Fushi’s Chairman and Chief Executive Officer, Mr. Li Fu (“Mr. Fu”) and Abax Global Capital (Hong Kong) Limited (“Abax”) to acquire all the outstanding shares of Common Stock of Fushi not currently owned by Mr. Fu and his affiliates.  Under the terms of the proposed transaction, Fushi shareholders will receive $11.50 in cash for each share of Fushi common stock for a total transaction value of approximately $433.8 million. Mr. Fu and his affiliates own approximately 29.2% of Fushi's Common Stock.

The investigation concerns whether the Fushi Board of Directors breached their fiduciary duties to Fushi stockholders by failing to adequately shop the Company before entering into this transaction and whether Mr. Fu and Abax are underpaying for Fushi shares.  At least one analyst set a price target for Fushi stock at $18.00 per share and Fushi common stock has trades as high as $12.76 as recently as April 9, 2010.

If you own common stock in Fushi and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at as@ashainberglaw.com or by telephone at (212) 425-7286, or visit http://www.ashainberglaw.com/fushi-fsin.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.

CONTACT:     
Abe Shainberg, Esq.
132 East 43rd Street, Suite 512
New York, NY 10017   
Tel: (212) 425-7286
Fax: (866) 699.3880
Email: as@ashainberglaw.com