The Law Offices of Vincent Wong Announce an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Baldor...
08 Dezembro 2010 - 6:51PM
Business Wire
The Law Offices of Vincent Wong are investigating the Board of
Directors of Baldor Electric Company (NYSE: BEZ) for possible
breaches of fiduciary duty and other violations of state law in
connection with their attempt to sell the Company to ABB Ltd.
(NYSE: ABB). Under the terms of the deal, Baldor shareholders will
receive $63.50 in cash per share for a total transaction value of
approximately $4.2 billion, which includes the assumption of
approximately $1.1 billion in debt.
The investigation concerns whether the Baldor Board of Directors
breached their fiduciary duties to Baldor stockholders by failing
to adequately shop the Company before entering into this
transaction and whether ABB is underpaying for Baldor shares.
If you own common stock in Baldor and wish to obtain additional
information, please contact Vincent Wong, Esq. either via email
vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/baldor-electric-company.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
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