Press release from Business Wire
Zeldes & Haeggquist, LLP Announces Investigation of Lufkin Industries Inc. Acquisition by General Electric Co.
Tuesday, April 09, 2013
Zeldes & Haeggquist, LLP Announces Investigation of Lufkin Industries Inc. Acquisition by General Electric Co.09:15 EDT Tuesday, April 09, 2013
SAN DIEGO (Business Wire) -- Zeldes & Haeggquist, LLP, a shareholder and consumer rights litigation firm, has commenced an investigation into possible legal claims against the Board of Directors of Lufkin Industries Inc. (“Lufkin”) (NASDAQ: LUFK), regarding possible breaches of fiduciary duties and other violations of law related to Lufkin's entry into an agreement to be acquired by General Electric Co. (“GE”) (NASDAQ: GE) in a transaction valued at approximately $3 billion.
Zeldes & Haeggquist's investigation concerns whether Lufkin's Board of Directors failed to adequately shop Lufkin to obtain the best possible value for Lufkin's shareholders before entering into an agreement with GE. Under the terms of the proposal, public shareholders of Lufkin will receive $88.50 per share in cash.
If you own common stock of Lufkin and purchased your shares before February 10, 2013, and would like additional information regarding this investigation, or if you have information regarding the matters under investigation, please contact attorney Aaron M. Olsen or Amber L. Eck at 619-342-8000, or by email at firstname.lastname@example.org or email@example.com.
Zeldes & Haeggquist is a full-service law firm which brings major class actions nationwide on behalf of defrauded investors and consumers and handles a variety of complex business litigation matters. Please visit www.zhlaw.com for more information.
Zeldes & Haeggquist, LLP
Aaron M. Olsen, 619-342-8000
Amber L. Eck, 619-342-8000