After the announcement of AmeriCredit Corp. being taken over by GM an investigation on behalf of current investors of AmeriCredit Corp. (NYSE:ACF) over possible shareholder claims based on breach of fiduciary duty in connection with takeover attempt by GM was announced.

AmeriCredit Corp.,located in Fort Worth, Texas, is an auto finance company operating in the automobile finance business. On Thursday, July 22, 2010, AmeriCredit Corp. (NYSE: ACF) and General Motors (GM) announced that they have entered into a agreement for GM to acquire AmeriCredit in an all-cash transaction valued at approximately $3.5 billion. Under the terms of the agreement AmeriCredit shareholders will receive $24.50 in cash for each share of stock held as of the transaction closing date. According to AmeriCredit its board of directors approved the agreement.

Shares of AmeriCredit Corp. (ACF), which are down from its52weekHigh of $26.49 per share, traded before the news at $20.52 per share and increased in response to the announcement to $24.08 per share. AmeriCredit Corp. reported in 2007 $2.33992billion Total Revenue, in 2008 $2.54308billion, and in 2009 $2.08237billion.

The investigation by a law firm concerns whether the AmeriCredit Corp. Board of Directors breached their fiduciary duty to AmeriCredit Corp. (NYSE:ACF) stockholders by failing to adequately shop the Company prior to entering into the agreement, whether the Board of Directors breached their fiduciary duties by not seeking a deal that will provide better value for AmeriCredit Corporation, and whether General Motors is underpaying for AmeriCredit Corp. (ACF), thus unlawfully harming ACF stockholders.