NEW YORK, Nov. 7, 2014 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Elecsys Corp. ("Elecsys" or the "Company") ( Nasdaq: ESYS) for potential breaches of fiduciary duties in connection with the sale of the Company to Lindsay Corp. for approximately $70.5 million. The Company's stockholders will only receive $17.50 for each share of Elecsys common stock they own.
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The investigation focuses on whether the Elecsys Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Elecsys shareholders.
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If you own common stock in Elecsys and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/ESYS or contact Juan E. Monteverde, Esq. either via e-mail at [email protected] or by telephone at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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