Under the terms of the transaction, Nortek shareholders will receive only $86.00 in cash for each share of Nortek stock they own. The investigation concerns whether the Board of Nortek breached their fiduciary duties to shareholders and whether Melrose is underpaying for the Company. The transaction may undervalue the Company and would result in either a loss or no real gain for many Nortek shareholders. For example, Nortek stock traded at $89.16 per share on April 15, 2015 and traded at $86.78 per share on August 20, 2015.
If you own shares of Nortek stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/1101-ntk-nortek-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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