SAN DIEGO, Feb. 10, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Key Technology, Inc. ("Key Technology") (NASDAQ: KTEC) breached their fiduciary duties in connection with the proposed sale of the Company to Duravant LLC.
On January 25, 2018, Key Technology announced that it had signed a definitive merger agreement with Duravant. Under the terms of the agreement, Duravant will acquire each share of outstanding common stock of Key Technology in exchange for $26.75 per share in cash.
The investigation concerns whether the Key Technology 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 Key Technology shares of common stock.
If you are a shareholder of Key Technology 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.
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