SAN DIEGO, July 6, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Nortek, Inc. (NASDAQ: NTK) breached their fiduciary duties in connection with the proposed sale of the Company to a newly created wholly owned subsidiary of UK based Melrose Industries PLC.
Nortek manufactures and sells products for remodeling and replacement, residential and commercial new construction and personal and enterprise computer markets.
On July 6, 2016, Nortek announced it had signed a definitive merger agreement with Melrose. Under the terms of the agreement, Melrose will pay $86.00 per share in cash for each share of Nortek common stock.
The investigation concerns whether the Nortek board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Nortek shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration.
If you are a shareholder of Nortek and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP