MPS Group, Inc. (MPS) board of directors under investigation

Oct. 21, 2009 - PRLog -- An investigation on behalf of current investors MPS Group, Inc. (Public, NYSE-MPS), who purchased the shares before October 20, 2009, over potential breaches of fiduciary duty and other violations of state law in connection with an alleged unfair takeover price were announced.

If you are currently an investor in shares of MPS GROUP INC , and purchased the shares before October 20, 2009, and / or have additional information relating to the investigation, you should contact the Shareholders Foundation, Inc. at:

Email: mail@shareholdersfoundation.com  

or at: +1 (858) 779 - 1554

The investigation by a law firm focus on potential breaches of fiduciary duty and other violations of state law by the Board of Directors of MPS Group, Inc. (Public, NYSE-MPS) arising out of their attempt to sell MPS Group Inc. (MPS) to Adecco Group (SIX: ADEN-VX) (Euronext: ADE).
On October 20, 2009 MPS Group, Inc.  announced that it has entered into a definitive agreement to be acquired by Adecco Group (SIX: ADEN-VX) (Euronext: ADE) for $13.80 per common share in a cash transaction valued at approximately $1.3 billion. According to MPS Group the Board of Directors of MPS Group unanimously approved the transaction and the offer represents a premium of 24% over October 19th closing stock price and a premium of 27% and 36%, respectively, over the average closing stock price (VWAP) during the last 30 and 90 calendar days.  

But according to an investigation by a law firm “the transaction appears to be unfair” to current investors of MPS Group, Inc. (Public, NYSE-MPS) because the “offer to purchase MPS Group Inc. (MPS) at $13.80 per share appears opportunistically timed to take advantage of the current economic downturn”. The investigation “concerns whether the MPS Group Board of Directors breached their fiduciary duties to MPS shareholders by agreeing to sell the Company at an unfair price thereby harming MPS shareholders”,  “whether the directors of MPS may have breached their fiduciary duties by not acting in MPS shareholders' best interests in connection with the sale process of MPS Group”, and “the Company may not have adequately shopped itself around before entering into this transaction and, pursuant to this proposed transaction, Adecco Group may be underpaying for MPS Group Inc, thus unlawfully harming MPS shareholders”.

MPS Group, Inc., located in Jacksonville, Florida, is a provider of business services with over 220 offices in the United States, Canada, the United Kingdom, continental Europe, Australia, and Asia. The Company delivers specialty staffing, consulting and business solutions to virtually all industries, through Modis, Badenoch and Clark, Accounting Principal, Entegee, Special Counsel, Idea Integration, Soliant Health and Beeline. MPS Group reported in 2007 Total Revenue of $2.17184billion with a Net Income of $87.09million and in 2008 Total Reveneu of $2.2223billion. Shares of MPS Group traded at $13.52 per share after the announcement and at $11.24 per share the day before the announcement. MPS shares traded over $15 in 2007 and 2006.

Those who currently are investors in shares of MPS Group, Inc. (Public, NYSE-MPS), and purchased the shares before October 20, 2009, and / or have additional information relating to the investigation, should contact the Shareholders Foundation, Inc. at:

Email: mail@shareholdersfoundation.com  

or at: +1 (858) 779 – 1554

Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
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