The Law Offices of Vincent Wong Announces an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Hawk ...
October 26 2010 - 6:44PM
Business Wire
The Law Offices of Vincent Wong is investigating the Board of
Directors of Hawk Corporation (“Hawk” or the “Company”) (AMEX:HWK)
for possible breaches of fiduciary duty and other violations of
state law in connection with their attempt to sell the Company to
Carlisle Companies, Inc. (“Carlisle”) (NYSE:CSL). Under the terms
of the transaction, Hawk will be acquired by Carlisle with Hawk
shareholders receiving $50.00 per share in cash which an enterprise
value of approximately $410 million.
The transaction is expected to be accretive to Carlisle in the
first year. The investigation concerns whether the Hawk Board of
Directors breached their fiduciary duties to Hawk stockholders by
failing to adequately shop the Company before entering into this
transaction and whether Carlisle is underpaying for Hawk shares.
Ronald Weinberg, Hawk's chairman and CEO, along with directors
Norman Harbert and Byron Krantz, who collectively hold
approximately 34% of Hawk's outstanding common stock, have entered
into agreements with Carlisle to tender their shares.
If you own common stock in Hawk and wish to obtain additional
information, please contact Vincent Wong, Esq. either via email
vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/hawk-hwk.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights.
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