MURRAY FRANK LLP Announces Investigation of C&D Technologies, Inc.
October 05 2011 - 5:41PM
Business Wire
MURRAY FRANK LLP is investigating claims of breach of fiduciary
duties by certain members of the board of directors of C&D
Technologies, Inc. (OTC: CHHP) (“C&D” or the “Company”) in
relation to the acquisition of the Company by an affiliate of
Angelo, Gordon & Co. (“Angelo Gordon”).
On October 3, 2011, C&D announced the signing of a
definitive merger agreement pursuant to which C&D will be
acquired by an affiliate of Angelo Gordon, which already owns
approximately 65% of the outstanding shares of C&D’s common
stock, in an all-cash transaction under which C&D stockholders
will receive $9.75 in exchange for each share of C&D common
stock owned.
The investigation seeks to determine whether certain members of
the board of directors breached their fiduciary duties in
connection with their efforts to sell C&D to the Angelo Gordon
affiliate at an inadequate price through an unfair process which
significantly undervalues the Company.
If you are a current investor in C&D, who purchased CHHP
shares before October 3, 2011, and you wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests with respect to these matters, please contact
Bridget V. Hamill at (800) 497-8076 or (212) 682-1818, or by email
at investigations@murrayfrank.com.