Tufco technologies, Inc Merger Litigation (Nasdaq: TFCO)
SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of Tufco Technologies, Inc. - TFCO
BALA CYNWYD, December 24, 2013 /PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Tufco Technologies, Inc. (“Tufco” or the “Company”) (Nasdaq –TFCO-News) relating to the proposed acquisition by Griffin Holdings, LLC.
Under the terms of the transaction, Tufco shareholders will receive only $6.07 in cash for each share of Tufco stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Tufco for not acting in the Company’s shareholders' best interests in connection with the sale process. The investigation seeks to determine if the Tufco’s Board of Directors failed to conduct an adequate auction process and as a result harmed the Tufco’s shareholders by undervaluing their Company.
The transaction may undervalue the Company and will result in a loss or no gain for many long term Tufco shareholders. Tufco stock traded above the sale price at $6.99 per share as recently as July 18, 2013 and has a reported book value of $8.70 per share for the most recent quarter.
If you own shares of Tufco common stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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