Lundy Law Commences An Investigation Into The Proposed Acquisition Of PMFG, Inc.
Lundy Law is investigating potential claims against the Board of Directors of PMFG, Inc. (“PMFG” or the “Company”) (NASDAQ: PMFG) for possible breaches of fiduciary duty and other violations of law in connection with the proposed sale of the Company to CECO Environmental Corp. (“CECO”). Under the terms of proposed transaction, CECO will acquire all of the outstanding shares of PMFG common stock for cash and stock valued at $6.85 per share. PMFG’s shareholders may elect to exchange each share of PMFG common stock for either $6.85 in cash or shares of CECO common stock.
Among other things, the investigation concerns whether the proposed transaction undervalues the Company and whether the Board of Directors of PMFG adequately shopped the Company in order to obtain the best possible value for PMFG’s shareholders. Notably, PMFG stock traded as high as $9.23 per share in December 2013.
If you own shares of PMFG common stock and wish to discuss the legal ramifications of the investigation, or have any questions, contact Lundy Law who will, without obligation or cost to you, answer your questions. For more information you may contact David Promisloff, co-counsel to Lundy Law directly at 1-800-LundyLaw, or visit https://www.lundylaw.com/press-releases/PMFG.
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