MAGNETEK SHAREHOLDER ALERT: Johnson & Weaver, LLP Launches an Investigation into the Proposed Sale of Magnetek, Inc. & Encour...
July 27 2015 - 9:25AM
Business Wire
Shareholder rights law firm Johnson & Weaver, LLP has
launched an investigation into whether the board members of
Magnetek, Inc. (NASDAQ: MAG) breached their fiduciary duties in
connection with the proposed sale of the Company to Columbus
McKinnon Corporation.
Additional Information:
Magnetek provides digital power control systems to control
motion and power primarily in material handling, elevator, and
mining applications.
On July 27, 2015, Magnetek announced that it had signed a
definitive merger agreement with Columbus McKinnon. Under the terms
of the agreement, Columbus McKinnon will pay $50.00 per Magnetek
share in cash.
The investigation concerns whether the Magnetek board is acting
in the shareholders’ best interests, including whether the board
adequately pursued alternatives to the acquisition and whether the
board obtained the best price possible for the Company’s shares of
common stock.
If you are a shareholder of Magnetek and believe the
proposed buyout price is too low or you’re interested in learning
more about the investigation or your legal rights and remedies,
please contact lead analyst Jim Baker (jimb@johnsonandweaver.com)
at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New York and Georgia.
The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For
more information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20150727005698/en/
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com
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