NEW YORK, July 27, 2015 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities firm headquartered in
New York City, is investigating
the Board of Directors of Magnetek, Inc. ("Magnetek" or the
"Company") (NASDAQ:MAG) for potential breaches of fiduciary duties
in connection with the sale of the Company to Columbus McKinnon
Corporation for approximately $188.9
million.
The Company's stockholders will only receive $50.00 for each share of Company common stock
they own. The offer represents a very small premium compared to
analysts' median target price of $45.00 per share and a negligible premium
compared to the opening price on July 27,
2015.
Click here for more information: www.faruqilaw.com/MAG. There
is no cost or obligation to you.
The investigation focuses on whether Magnetek's Board of
Directors breached their fiduciary duties to the Company's
stockholders by failing to conduct a fair sales process and whether
and by how much this proposed transaction undervalues the Company
to the detriment of Magnetek'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. To keep track of the latest
securities litigation news, follow us on Twitter at
www.twitter.com/MergerActivity or on Facebook at
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If you own common stock in Magnetek and wish to obtain
additional information and protect your investments free of charge,
please visit us at www.faruqilaw.com/MAG or contact Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Contact:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330
Attorney Advertising. (C) 2015 Faruqi & Faruqi, LLP.
The law firm responsible for this advertisement is Faruqi &
Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
We are happy to discuss your particular case.
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