Free Republic

WAYNE, Pa. - (Business Wire) Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/acf) is investigating potential claims against the board of directors of AmeriCredit Corporation ("AmeriCredit" or the "Company") (NYSE: ACF) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by General Motors Corporation (“GM”) in a transaction valued at approximately $3.5 billion. Our investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by Company’s board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration...

DETROIT — General Motors Co. will buy AmeriCredit Corp. for $3.5 billion, a deal that allows the automaker to expand loans to customers with poor credit and offer more leases, key areas where GM must grow to accelerate its car sales. But the acquisition, announced Thursday, also means that GM, which is 61 percent owned by the U.S. government, is getting back into the business of making risky loans. AmeriCredit is an independent auto financing company that already works with about 4,000 GM dealers.