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Press release from Business Wire

Lufkin Industries Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Acquisition by GE

Monday, April 08, 2013

Lufkin Industries Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Acquisition by GE

11:12 EDT Monday, April 08, 2013

DALLAS (Business Wire) -- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the going private proposal of Lufkin Industries (“Lufkin”) (NasdaqGS: LUFK) by GE for shareholders. Under the terms of the proposed transaction valued at approximately $3.3 billion, Lufkin shareholders will only receive $88.50 in cash for each share of LUFK stock owned.

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at zach@powerstaylor.com. There is no cost or fee to you.

The Lufkin sale investigation centers on whether Lufkin shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Lufkin stock, and whether Lufkin's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Shareholder rights attorney Willie Briscoe commented that “based upon the proposed sale price, the size of the deal, and other factors, we believe this transaction may undervalue Lufkin stock. Our proposed lawsuit will seek to ensure that shareholders are receiving the highest share price for their shares.”

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

The Briscoe Law Firm, PLLC
Willie Briscoe, 214-239-4568
WBriscoe@TheBriscoeLawFirm.com
or
Powers Taylor, LLP
Zach Groover, 877-728-9607
zach@powerstaylor.com

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