WILMINGTON, Del., April 13, 2013 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you own shares of Lufkin Industries Inc. (NASDAQ GS: LUFK)?
- Did you purchase any of your shares prior to April 8, 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 Lufkin Industries Inc. ("Lufkin" or the "Company") (NASDAQ GS: LUFK) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by General Electric Company ("GE") (NYSE: GE) in a transaction valued at approximately $3.3 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/lufkin-industries-inc-lufk.
Under the terms of the proposal, public shareholders of Lufkin will receive $88.50 per share in cash for each share of Lufkin they own.
The investigation concerns whether Lufkin's board of directors failed to adequately shop the Company and obtain the best possible value for Lufkin's shareholders before entering into an agreement with GE.
If you own the common stock of Lufkin and purchased your shares before April 8, 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 [email protected], or at: http://www.rigrodskylong.com/investigations/lufkin-industries-inc-lufk.
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.
Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Rigrodsky & Long, P.A.