NEW YORK, July 27, 2015 /PRNewswire/ -- Stull, Stull & Brody (www.ssbny.com) is investigating potential claims on behalf of shareholders of Magnetek, Inc. ("Magnetek" or the "Company") (Nasdaq: MAG) concerning whether the Company's Board of Directors breached its fiduciary duties in connection with the sale of the Company to Columbus McKinnon Corporation for approximately $188.9 million.
The current investigation is focused upon whether the Company's Board of Directors breached its fiduciary duty to maximize value to the Company's shareholders and to act in shareholders' best interests, including whether the Board of Directors undertook an adequate sales process and disclosed all material information to the Company's shareholders.
While the terms of the proposed transaction provide that the Company's shareholders will receive $50.00 for each share of Company common stock they own, at least one analyst has set a target price of $45.00 per share for the Company's stock, making the acquisition premium small.
Shareholders of Magnetek may contact Michael J. Klein, Esq. at Stull, Stull & Brody to discuss their rights in connection with the proposed transaction by calling 1-800-337-4983, extension 147, or by email at MAG@ssbny.com.
Stull, Stull & Brody has represented shareholders in merger litigation and other securities class actions for over 40 years and has obtained court approval of substantial settlements on numerous occasions.
Attorney Advertising. Prior Results Do Not Guarantee a Similar Outcome.
SOURCE Stull, Stull & Brody