Ladish Co., Inc. Shareholder Investigation by Briscoe Law Firm Concerning the Acquisition by Allegheny Technologies Incorporated
17 Novembre 2010 - 6:39PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the law firm of Powers Taylor, LLP are
investigating potential legal claims against the Board of Directors
of Ladish Co., Inc. (“Ladish Co.” or “LDSH”) (NASDAQ: LDSH) related
to the proposed acquisition of Ladish Co. by Allegheny Technologies
Incorporated.
The definitive merger agreement, which was announced on November
17, 2010, involves a cash and stock transaction valued at
approximately $778 million, under which Ladish Co. shareholders
will receive .4556 shares of Allegheny Technologies and $24.00 in
cash for each share of Ladish Co./LDSH common stock held. Based on
Ladish Co.’s historical share prices, and the fact that Ladish Co.
recently announced an increase in third quarter net sales from
$76.2 million to $100.3 million, compared to the same period last
year, the proposed price appears to undervalue Ladish Co.
The investigation relates to possible breaches of fiduciary duty
and other violations of state law by the Board of Directors of
Ladish Co. for approving this transaction and whether Ladish Co.’s
Board of Directors acted in the shareholders’ best interests and
obtained the best compensation for the company’s shareholders.
If you currently own shares of Ladish Co./LDSH and would like
additional information regarding this investigation, or if you have
information regarding the allegations involving this transaction,
please contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie
Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or
via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or
fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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