The Law Office of Abe Shainberg Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of T-3 En...
06 Octubre 2010 - 6:15PM
Business Wire
The Law Office of Abe Shainberg is investigating the Board of
Directors of T-3 Energy Services, Inc. (NasdaqGS:TTES) for possible
breaches of fiduciary duty and other violations of state law in
connection with their attempt to sell the Company to Robbins &
Myers, Inc. (NYSE:RBN). Under the terms of the deal, T-3
stockholders will receive 0.894 common shares of Robbins &
Myers plus $7.95 in cash for each share of T-3 common stock they
own, for a total transaction value of approximately $422 million.
Based on October 5, 2010 closing prices, this represents a value of
$31.80 per share of T-3 Energy common stock.
The investigation concerns whether the T-3 Energy Board of
Directors breached their fiduciary duties to T-3 Energy
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Robbins & Myers is
underpaying for T-3 Energy shares. The mean price target set by
analysts for T-3 Energy stock is $33.11 per share with at least one
analyst setting a price target of $37.00 per share.
If you own common stock in T-3 Energy and wish to obtain
additional information, please contact Abe Shainberg, Esq. either
via email at as@ashainberglaw.com or by telephone at (212)
425-7286, or visit
http://www.ashainberglaw.com/t3energy-ttes.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide.
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