Multiple investigations on behalf of current long term investors in Terra Industries Inc. (Public, NYSE:TRA) over potential breaches of fiduciary duty and other violations of state law in connection with an alleged unfair takeover were announced.

The investigations by law firms focus on potential breaches of fiduciary duty and other violations of state law by the Board of Directors of Terra Industries Inc. arising out of their attempt to sell Terra Industries Inc. (Public, NYSE:TRA) to Yara International ASA. After CF Industries Holdings, Inc. (Public, NYSE: CF) for months tried to take over Terra Industries and even filed a lawsuit on February 15, 2010, Terra Industries Inc. (NYSE: TRA) announced that its Board of Directors has unanimously approved a definitive merger agreement under which Yara International ASA (OSLO: YAR.OL) will acquire all of the outstanding shares of Terra common stock for US$41.10 per share in cash or at a transaction value of approximately US$4.1 billion. According to Terra Industries Inc. the offer represents a 23.6% premium over Terra Industries Inc.'s closing price on February 12, 2010, the last trading day prior to its February 15, 2010 announcement.

But according to one investigation by a law firm “the transaction appears to be unfair” to current investors of Terra Industries Inc. (Public, NYSE:TRA) because the “offer to purchase Terra Industries Inc. (TRA) at $41.10 per share appears opportunistically timed to take advantage of the current economic downturn” and is “grossly unfair, inadequate, and substantially below the fair or inherent value of TRA”.......read more

An investor of International Game Technology (Public, NYSE:IGT) has filed a proposed securities class action lawsuit in the United States District Court for the District of Nevada on behalf of purchasers of International Game Technology (NYSE:IGT) common stock during the period between November 1, 2007 and October 30, 2008 against IGT and others alleging violations of Federal Securities laws.

According to the complaint the plaintiff alleges that International Game Technology and certain of its officers and directors violated the Securities Exchange Act of 1934by issuing between November 1, 2007 and October 30, 2008 materially false and misleading statements regarding IGT’s business prospects. As alleged in the complaint, the inflation in the price of IGT stock came out in response to a series of disclosures by IGT. International Game Technology (IGT), located in Reno, NV, is a global gaming company specializing in the design, manufacture, and marketing of electronic gaming equipment and network systems, as well as licensing and services. IGT maintains an array of entertainment-inspired gaming product lines. In addition to its United States production facilities in Nevada, it manufactures gaming products in the United Kingdom and through a third-party manufacturer in Japan. International Game Technology reported in 2007 Total Revenue of $2.6214billion with a Net Income of $508.20million and in 2008 $2.5286billion with a Net Income of $341.50million. Shares of IGT traded recently at $19.72 per share, down from a 52weekHigh of $24.55 per share and $48.28 per share in 2008.....read more