Rigrodsky & Long, P.A. Announces Investigation Of Lufkin Industries Inc. Buyout
April 08 2013 - 7:00PM
Business Wire
Rigrodsky & Long, P.A.:
- Do you own shares of Lufkin
Industries Inc. (NASDAQ GS: LUFK)?
- Did you purchase any of your shares
prior to April 8, 2013?
- Do you think the proposed buyout
price is too low?
- Do you want to discuss your
rights?
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of Lufkin
Industries Inc. (“Lufkin” or the “Company”) (NASDAQ GS: LUFK)
regarding possible breaches of fiduciary duties and other
violations of law related to the Company’s entry into an agreement
to be acquired by General Electric Company (“GE”) (NYSE: GE) in a
transaction valued at approximately $3.3 billion.
Click here to learn more:
http://www.rigrodskylong.com/investigations/lufkin-industries-inc-lufk.
Under the terms of the proposal, public shareholders of Lufkin
will receive $88.50 per share in cash for each share of Lufkin they
own.
The investigation concerns whether Lufkin’s board of directors
failed to adequately shop the Company and obtain the best possible
value for Lufkin’s shareholders before entering into an agreement
with GE.
If you own the common stock of Lufkin and purchased your shares
before April 8, 2013, if you have information or would like to
learn more about these claims, or if you wish to discuss these
matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Seth Rigrodsky or Brian Long at Rigrodsky & Long, P.A., 2
Righter Parkway, Suite 120, Wilmington, Delaware 19803, by
telephone at (302) 295-5310, or Peter Allocco at Rigrodsky &
Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New
York 11530, by telephone at (888) 969-4242; by e-mail to
info@rigrodskylong.com, or at:
http://www.rigrodskylong.com/investigations/lufkin-industries-inc-lufk.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly prosecutes securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in
states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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