NEW YORK, Dec. 7, 2015 /PRNewswire/ -- The proposed
acquisition of Breeze-Eastern Corporation ("BZC" or the
"Company") by TransDigm Group Incorporated ("TransDigm") is being
investigated by WeissLaw LLP for possible breaches of fiduciary
duty and other violations of law by the Board of Directors of
BZC. On November 19, 2015, the
Company announced it had reached a definitive agreement for
TransDigm to acquire all outstanding shares of BZC in a transaction
valued at approximately $206 million.
Under the terms of the agreement, BZC shareholders will
receive $19.61 in cash for each BZC
share they own.
WeissLaw is investigating whether BZC's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the Company's shares traded at $21.25, or approximately $2.00 above the offer price, a little over two
weeks prior to the announcement. Additionally, BZC announced
positive financial results in the second quarter of fiscal year
2016. It reported sales of $23.9
million as compared with $17.7
million in the same period of the previous year,
representing an increase of 35% year-over-year. It also
reported an increase of $2.3 million
in net income from the $0.6 million
reported in the second quarter of fiscal year 2015.
Given these facts, WeissLaw is investigating whether BZC's Board
acted in the best interests of BZC's public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with TransDigm. If you own BZC
shares and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP 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 clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a
similar outcome.
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SOURCE WeissLaw LLP