NEW YORK, July 18, 2017 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Sevcon, Inc.
(NASDAQ: SEV) ("SEV" or the "Company") in connection with the
proposed acquisition of the Company by BorgWarner, Inc.
("BorgWarner"). On July 17,
2017, the Company announced a definitive agreement for
BorgWarner to acquire all outstanding shares of SEV in a
transaction valued at approximately $200
million, inclusive of debt. Under the terms of the
agreement, the Company's shareholders will receive $22.00 in cash for each SEV share they own.
WeissLaw is investigating whether SEV's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, SEV recently announced double-digit growth in the second
quarter of 2017. It reported a noteworthy 21% increase in
sales to on-road customers, and a 19% increase in
revenue.
Given these facts, WeissLaw is investigating whether SEV's Board
acted in the best interests of SEV's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own SEV 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/sevcon-inc/
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SOURCE WeissLaw LLP