Law Office of Brodsky & Smith, LLC Announces Investigation of Ceradyne, Inc.
October 06 2012 - 12:00PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Ceradyne, Inc. (“Ceradyne” or the “Company”) (Nasdaq- CRDN)
relating to the proposed acquisition by 3M Company (“3M”).
Under the terms of the transaction, Ceradyne shareholders will
receive only $35.00 in cash for each share of Ceradyne stock they
own. The investigation concerns possible breaches of fiduciary duty
and other violations of state law by the Board of Directors of
Ceradyne for not acting in the Company’s shareholders' best
interests in connection with the sale process to 3M. The
transaction may undervalue the Company and result in a substantial
loss for many Ceradyne shareholders. For example Ceradyne stock
traded at $49.40 as recently as May 10, 2011 and an analyst has set
a $37.00 price target for Ceradyne.
If you own shares of Ceradyne stock and wish to discuss the
legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com visiting
http://brodsky-smith.com/484-crdn-ceradyne-inc.html, by calling
toll free 877-LEGAL-90.
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