WILMINGTON, Del., March 25, 2013 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of EDAC Technologies Corporation (NASDAQ CM: EDAC)?
- Did you purchase any of your shares prior to March 18, 2013?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of EDAC Technologies Corporation ("EDAC" or the "Company") (NASDAQ CM: EDAC) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by GB Aero Engine LLC, an affiliate of Greenbriar Equity Group LLC ("Greenbriar"), in a transaction valued at approximately $104.1 million.
Click here to learn more: http://www.rigrodskylong.com/investigations/edac-technologies-corporation-edac.
Under the terms of the proposal, public shareholders of EDAC will receive $17.75 per share in cash for each share of EDAC they own.
The investigation concerns whether EDAC's board of directors failed to adequately shop the Company and obtain the best possible value for EDAC's shareholders before entering into an agreement with Greenbriar.
If you own the common stock of EDAC and purchased your shares before March 18, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Brian Long at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, Delaware 19803, by telephone at (302) 295-5310, or Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/edac-technologies-corporation-edac.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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