Law Offices of Howard G. Smith Announces Investigation of Edac Technologies Corp.
BENSALEM, Pa.--(BUSINESS WIRE)-- Law Offices of Howard G. Smith announces that it is investigating potential claims against the Board of Directors of Edac Technologies Corp. (“Edac” or the “Company”) (Nasdaq: EDAC ) related to the proposed acquisition of the Company by GB Aero Engine LLC, an affiliate of Greenbriar Equity Group LLC. The transaction is valued at approximately $104.1 million or $17.75 per share.
This investigation concerns whether the Board of Directors of Edac breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price skyrocketed from $9.86 on May 22, 2012 to $16.74 on March 5, 2013.
If you are a shareholder of Edac, if you have information or would like to learn more about our investigation, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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