Faruqi & Faruqi, LLP’s national practice focuses on complex civil litigation. The firm practices in the areas of Securities, Merger & Transactional, Shareholder Derivative, Antitrust, Consumer Class Action, and Wage & Hour litigation.
Tuesday, May 5, 2015
Faruqi & Faurqi Law Investigation: PMFG, Inc.
PMFG, INC. INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of PMFG, Inc. Over the Proposed Sale of the Company to CECO Environmental Corp. - PMFG
May 4, 2015 – Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of PMFG, Inc. (“PMFG” or the “Company”) (Nasdaq: PMFG) for potential breaches of fiduciary duties in connection with the sale of the Company to CECO Environmental Corp. (“CECO”) (Nasdaq: CECE) for approximately $150 million equity value in a cash or stock transaction. The Company’s stockholders will elect to receive $6.85 in either cash or stock for each share of PMFG common stock they own. Additionally, at least one analyst has set a price target for PMFG as high as $9.50 per share.
The investigation focuses on whether PMFG’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of PMFG’s shareholders.
If you own common stock in PMFG and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.