Harwood Feffer LLP Announces Investigation of C&D Technologies, Inc.
October 06 2011 - 2:14PM
Business Wire
Harwood Feffer LLP (www.hfesq.com)
is investigating potential claims against the board of directors of
C&D Technologies, Inc. ("C&D" or the "Company") (OTC: CHHP)
concerning the proposed acquisition of the Company by an affiliate
of Angelo, Gordon & Co. (“Angelo Gordon”).
On October 3, 2011, C&D announced it had entered into a
definitive agreement pursuant to which the Company would be
acquired by Angelo Gordon. Under the terms of the agreement,
C&D stockholders will receive $9.75 in cash for each share of
Company stock held. C&D stock has traded as high as $9.60 per
share as recently as July 15, 2011. Because Angelo Gordon already
controls 65% of the C&D’s outstanding shares, no shareholder
approval will be necessary for consummation of the deal.
Our investigation concerns whether the board of directors has
breached its fiduciary duties by failing to adequately shop the
Company and whether the board undertook a fair process and obtained
fair consideration for C&D stockholders.
Harwood Feffer has been representing individual and
institutional investors for many years, serving as lead counsel in
numerous cases in federal and state courts. Please visit the
Harwood Feffer LLP website (http://www.hfesq.com) for more
information about the firm.
If you own C&D shares and wish to discuss this matter with
us, or have any questions concerning your rights and interests with
regard to this matter, please contact:
Robert I. Harwood, Esq.
Peter W. Overs, Jr., Esq.
Benjamin Sachs-Michaels
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email: rharwood@hfesq.com
povers@hfesq.com
bsachsmichaels@hfesq.com
Website: http://www.hfesq.com
Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm
responsible for this advertisement is Harwood Feffer LLP
(www.hfesq.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter.