DALLAS, Dec. 27, 2011 /PRNewswire/ -- Former United
States Securities and Exchange Commission attorney Willie Briscoe
and the securities litigation firm of Powers Taylor, LLP are
investigating the sale of Baldwin Technology Company, Inc.
("Baldwin Technology" or "BLD") (NYSE Amex: BLD) to the private
equity firm Forsyth Baldwin, LLC for shareholders. Under the
proposed going-private acquisition, Baldwin Technology shareholders
will receive only $0.96 in cash for
each share of Baldwin Technology/BLD stock owned, which is
significantly less than the price that Baldwin Technology' shares
traded as recently as early November
2011, and significantly lower than analysts' target price
for the company.
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If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or
Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to
you.
The definitive acquisition agreement involves an all cash
transaction valued at approximately $27.3
million. The transaction is expected to close in the
second quarter of 2012.
According to former SEC attorney and shareholder rights advocate
Willie Briscoe, "We are concerned
that the transaction may significantly undervalue Baldwin
Technology stock, and our lawsuit will seek to obtain the highest
share price for all shareholders." More specifically, as
recently as May 9, 2011, Baldwin
Technology/BLD shares closed as high as $1.78 per share, and at least one analyst has set
a target price for Baldwin Technology stock at $1.80 per share. Further, under the terms of the
acquisition agreement, the price paid to Baldwin Technology
shareholders is subject to further reduction to no less than
$0.90 per share at closing based on
certain criteria. The investigation centers on whether
Baldwin Technology shareholders are receiving adequate compensation
for their shares in the buyout, whether the transaction undervalues
Baldwin Technology stock, and whether Baldwin Technology's board
attempted to obtain the highest share price for all shareholders
prior to agreeing to the deal.
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
SOURCE Powers Taylor, LLP