NEW YORK, July 27, 2015 /PRNewswire/ -- Stull, Stull
& Brody (www.ssbny.com) is investigating potential
claims on behalf of shareholders of Magnetek, Inc. ("Magnetek" or
the "Company") (Nasdaq: MAG) concerning whether the Company's Board
of Directors breached its fiduciary duties in connection with the
sale of the Company to Columbus McKinnon Corporation for
approximately $188.9 million.
The current investigation is focused upon whether the Company's
Board of Directors breached its fiduciary duty to maximize value to
the Company's shareholders and to act in shareholders' best
interests, including whether the Board of Directors undertook an
adequate sales process and disclosed all material information to
the Company's shareholders.
While the terms of the proposed transaction provide that the
Company's shareholders will receive $50.00 for each share of Company common stock
they own, at least one analyst has set a target price of
$45.00 per share for the
Company's stock, making the acquisition premium small.
Shareholders of Magnetek may contact Michael J. Klein, Esq. at Stull, Stull &
Brody to discuss their rights in connection with the proposed
transaction by calling 1-800-337-4983, extension 147, or by email
at MAG@ssbny.com.
Stull, Stull & Brody has represented shareholders in merger
litigation and other securities class actions for over 40 years and
has obtained court approval of substantial settlements on numerous
occasions.
Attorney Advertising. Prior Results Do Not Guarantee a
Similar Outcome.
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SOURCE Stull, Stull & Brody