Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Solutia Inc. (NYSE: SOA) arising from its agreement for the Company to be acquired by Eastman Chemical (NYSE: EMN).

Pursuant to the merger agreement, shareholders will receive $22 in cash and 0.12 shares of Eastman common stock for each Solutia share. Based on the 30-day average closing price of Eastman stock prior to January 27, 2012, the total value received by Solutia shareholders is $26.98 per share. The deal is anticipated to close in mid-2012, subject to customary conditions, including Solutia shareholder and regulatory approvals.

Weiss & Lurie is investigating whether Solutia’s Board acted in the best interests of its shareholders in approving the transaction and whether the Board took steps to maximize the value of Solutia stock, such as by providing a level playing field to competing bidders or by considering alternative transactions. Prior to the announcement of the deal, Solutia stock traded at a 52-week high of $27.08 per share in May 2011, and at least one analyst set the price target for Solutia stock at $31.00 per share. Moreover, in mid-December 2011, Solutia reported a strong outlook for 2012 – with adjusted earnings of $2.00 to $2.30 per share – and analysts agree – they predict $2.24 per share in earnings.

If you own Solutia shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by email at info@weisslurie.com or by telephone at (888) 593-4771.

Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing, consumer, or anti-trust violations, please email us at info@weisslurie.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.

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