NEW YORK, Feb. 14, 2018 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Hardinge Inc.
("HDNG" or the "Company") (NASDAQ: HDNG) in connection with the
proposed acquisition of the Company by affiliate Privet Fund
Management LLC. Under the terms of the acquisition agreement,
the Company's shareholders will receive $18.50 in cash for each HDNG share they own.
WeissLaw is investigating whether HDNG's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, HDNG shares traded above the offer price as recently as
February 2, 2018, peaking on
January 24, 2018, when they traded
for $19.47. Moreover, the
Company recently reported an impressive 26% growth in sales in the
third quarter of 2017. HDNG's President and CEO further
underscored the Company's financial success by explaining that the
"higher earnings [achieved] in the quarter [were the] result of
strong sales growth driven by improved global demand for [HDNG's]
products and machining solutions," which he believes will continue
to strengthen a "solid" fiscal year 2017 for the Company.
Given these facts, WeissLaw is investigating whether HDNG's
Board acted in the best interests of HDNG's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own HDNG shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website, http://www.weisslawllp.com/hardinge-inc/
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SOURCE WeissLaw LLP