An investigation on behalf of current investors GenTek Inc. (Public, NASDAQ:GETI), who purchased the shares before September 28, 2009, over potential breaches of fiduciary duty and other violations of state law in connection with an alleged unfair takeover price were announced.

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 GenTek Inc. (Public, NASDAQ:GETI) arising out of their attempt to sell GenTek Inc. to ASP GT Acquisition Corp, a wholly-owned subsidiary of investment funds managed by American Securities LLC. On September 28, 2009 GenTek Inc. (NASDAQ: GETI) announced, that it has entered into a definitive agreement to be acquired by ASP GT Acquisition Corp., a wholly-owned subsidiary of investment funds managed by American Securities LLC, a private equity firm. GenTek announced that under the terms of the merger agreement, ASP GT Acquisition Corp will offer to purchase for cash all of the outstanding shares of GenTek common stock (NASDAQ: GETI) at a price of $38.00 per share. The transaction is valued at $673 million consisting of equity value of approximately $411 million plus the assumption of net debt and similar liabilities of approximately $262 million and the Board of Directors of GenTek has unanimously approved the merger agreement.

According to an investigation by a law firm the transaction appears to be unfair to current investors of GenTek Inc. (Public, NASDAQ:GETI) because the offer to purchase GenTek Inc. (NASDAQ:GETI) at $38 per share appears opportunistically timed to take advantage of the current economic downturn. The investigation concerns whether the consideration to be paid to GETI shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of GETI and whether the directors of GETI, including any special committee members, may have breached their fiduciary duties by not acting in GETI shareholders' best interests in connection with the sale process of GETI. Another investigation even calls the deal suspicious because it appears from a review of the Company's financial statements that the inherent value of the Company's stock is greater than $38.00 per share.

GenTek Inc., located in Parsippany, NJ, is a holding company whose subsidiaries manufacture industrial components and performance chemicals. The Companys subsidiaries operate through two primary business segments: valve actuation systems and performance chemicals. GenTek Inc reported in 2007 Total Revenue of $560.27million with a Net Income of $29.77million and in 2008 Total Revenue of $608.04million. Shares of GenTek Inc. (NASDAQ:GETI) traded at $37.75 per share after the announcement and $27.30 per share shortly before the announcement. GenTek Inc. shares (NASDAQ:GETI) traded in 2005 at over $48.50 per share, in 2007 at about $38 per share, and in 2008 at almost $32 per share.