Newman Ferrara LLP Announces Investigation of Bolt Technology Corporation
Newman Ferrara LLP is investigating potential claims against the Board of Directors of Bolt Technology Corporation ("Bolt") (Nasdaq: BOLT) concerning the proposed sale of Bolt to Teledyne Technologies Incorporated (NYSE: TDY).
Under the terms of the proposed transaction, Bolt's stockholders will receive only $22.00 in cash for each share of Bolt stock owned. However, Bolt common stock has traded at above the $22.00 per share offer price as recently as February 18, 2014, when it reached $22.10 per share. The offer price is also below the 52-week trading high of Bolt common stock of $22.76 per share.
Newman Ferrara's investigation concerns whether Bolt's Board of Directors has breached its fiduciary duties to act in the best interests of Bolt's stockholders. The investigation focuses on the process by which Bolt's Board of Directors considered and approved the proposed transaction.
Concerned investors may contact Newman Ferrara attorney Roy Shimon at rshimon@nfllp.com to discuss this investigation, their rights, or potential remedies.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.
CONTACT:
Newman Ferrara LLP
Roy Shimon
1250 Broadway, 27 th Fl.
New York, NY 10001
rshimon@nfllp.com
Tel. 212.619.5400