Faruqi & Faruqi, LLP is Seeking More Cash for the Shareholders of EDAC Technologies Corporation (EDA
Faruqi & Faruqi, LLP is Seeking More Cash for the Shareholders of EDAC Technologies Corporation (EDAC)
NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of EDAC Technologies Corporation ("EDAC" or the "Company") (NAS: EDAC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to GB Aero Engine LLC, an affiliate of Greenbriar Equity Group LLC, in a cash deal valued at approximately $104.1 million. Under the terms of the proposed transaction, EDAC's stockholders will receive $17.75 for each share of EDAC common stock they own. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote.
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The investigation focuses on whether EDAC's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of EDAC's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in EDAC and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/EDAC or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: 877-247-4292
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