San Diego, CA -- (SBWIRE) -- 04/29/2015 -- An investor, who currently holds shares of Baltic Trading Ltd (NYSE:BALT), filed a lawsuit in effort to stop the proposed takeover of Baltic Trading Ltd. by Genco Shipping & Trading Limited.

Investors who purchased shares of Baltic Trading Ltd (NYSE:BALT) and currently hold any of those NYSE:BALT shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of breached their fiduciary duties owed to investors in connection with the proposed acquisition.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:BALT stockholders by agreeing to sell Baltic Trading Ltd too cheaply via an unfair process to Genco Shipping & Trading Limited.

On April 8, 2015, Genco Shipping & Trading Limited (OTCBB: GSKNF) and its subsidiary Baltic Trading Ltd (NYSE:BALT) announced that they have entered into a merger agreement under which Genco Shipping & Trading Limited will acquire Baltic Trading Ltd (NYSE:BALT) in a stock-for-stock transaction. Under the terms of the agreement,Baltic Trading Ltd (NYSE:BALT) will become an indirect wholly-owned subsidiary of Genco, and Baltic Trading Ltd (NYSE:BALT) shareholders will receive 0.216 shares of Genco common stock for each share of Baltic Trading Ltd (NYSE:BALT common stock they own at closing, with fractional shares to be settled in cash. The proposed transaction is valued at $1.69 per NYSE:BALT share.

However, the plaintiff claims that the proposed consideration NYSE:BALT shareholders will receive is grossly inadequate and undervalues Baltic Trading Ltd. Indeed, at least one analyst has set the high target price of NYSE:BALT shares at $4.00 per share. Furthermore, Baltic Trading Ltd reported that its annual Total Revenue rose from $27.30 million in 2012 to $45.52 million in 2014. Shares of Baltic Trading Ltd (NYSE:BALT) traded in March 2014 as high as $7.48 per share. Additionally, the plaintiff claims that the process is also unfair to NYSE:BALT stockholders.

On April 27, 2015, NYSE:BALT shares closed at $1.62 per share.

Those who are current investors in Baltic Trading Ltd (NYSE:BALT) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com