Shareholders Foundation Announces Bway Holding Company Investor Lawsuit Against BWY Board of Directors

SAN DIEGO, April 12, 2010 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit has been filed in Georgia State Court on behalf of current investors in Bway Holding Company BWY, who purchased their BWY shares before March 29, 2010, over alleged breach of their fiduciary duties by members of the Bway board of directors and others.

On March 29, 2010 Bway Holding Company BWY announced it has entered into an agreement to be acquired by a company organized by Madison Dearborn Partners, LLC in a transaction with a total value of approximately $915 million, including the assumption of debt. Under the agreement, Bway shareholders will receive $20.00 cash for each share of Bway common stock they own. According to Bway Holding Company the agreement was unanimously approved by Bway's Board of Directors and the offer represents a premium, based on the closing price on March 26, 2010, of approximately 25% percent over the 30 day average closing trading price and 16% over the 90 day average closing trading price.

Shares of Bway Holding Company BWY traded after the announcement at $20.44 per share, and at almost $18 per share the trading day before the news.

According to the complaint the plaintiff alleges, among other things, breach of fiduciary duty in connection with an unfair process and an unfair price. The directors of Bway Holding Company failed to maximize shareholder value and the offer does not reflect the true inherent value of the company, so the lawsuit.

Those who currently are investors in shares of Bway Holding Company BWY and purchased their shares before March 29, 2010, should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.

The Shareholders Foundation, Inc. is an investor advocacy group which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The group offers help, support, and assistance for every shareholder, and investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

The Shareholders Foundation, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6931