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.
Monday, July 27, 2015
Faruqi & Faruqi Investigation: Magnetek, Inc.
Faruqi & Faruqi, LLP Announces the Investigation of Magnetek, Inc. (MAG) Over the Proposed Sale of the Company to Columbus McKinnon Corporation
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Magnetek, Inc. (“Magnetek” or the “Company”) (NASDAQ:MAG) for potential breaches of fiduciary duties in connection with the sale of the Company to Columbus McKinnon Corporation for approximately $188.9 million.
The Company’s stockholders will only receive $50.00 for each share of Company common stock they own. The offer represents a very small premium compared to analysts’ median target price of $45.00 per share and a negligible premium compared to the opening price on July 27, 2015.
If you own common stock in Magnetek and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact F&F'sJuan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.