Huttig Building Products, Inc.

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Ademi LLP is investigating Huttig (NASDAQ: HBP) for possible breaches of fiduciary duty and other violations of law in its transaction with Woodgrain.

Ademi LLP alleges Huttig’s financial outlook and prospects are excellent and yet Huttig shareholders will receive only $10.70 per share, or approximately $350 million including the assumption of debt.. The transaction agreement unreasonably limits competing bids for Huttig by prohibiting solicitation of further bids, and imposing a significant penalty if Huttig accepts a superior bid. Huttig insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Huttig’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Huttig.