SAN DIEGO, Oct. 10, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Esterline Technologies Corporation ("Esterline") (NYSE: ESL) breached their fiduciary duties in connection with the proposed sale of the Company to TransDigm Group Incorporated ("TransDigm") (NYSE: TDG).
On October 10, 2018, Esterline announced that it had signed a definitive merger agreement with TransDigm. Under the terms of the transaction, Esterline shareholders will receive $122.50 a share per share in cash for each share of Esterline held.
The investigation concerns whether the Esterline board failed to satisfy its 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 Esterline shares of common stock.
If you are a shareholder of Esterline 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.
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About Johnson Fistel, LLP:
Johnson Fistel, 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.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson Fistel, LLP