EDGEN GROUP INVESTOR ALERT: Faruqi & Faruqi, LLP Is Examining Claims Regarding Breaches of Fiduciary Duty by the Board of Edgen Group Inc. (EDG) in Connection With the Sale of Company to Sumitomo Corporation -- EDG

NEW YORK, Oct. 22, 2013 (GLOBE NEWSWIRE) -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is reviewing claims against the Board of Directors of Edgen Group Inc. ("Edgen" or the "Company") EDG for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Japan's Sumitomo Corporation in a cash deal valued at approximately $520 million. Under the terms of the proposed transaction, Edgen's stockholders will receive $12.00 for each share of Edgen common stock they own. Meanwhile, According to Yahoo! Finance, at least one analyst has set a price target of $15.00 for the Company. A complaint was filed in Louisiana District Court.

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The complaint focuses on whether Edgen's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Edgen's shareholders.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.

If you own common stock in Edgen and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/EDG or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

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