WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Titanium Metals Corporation (“Titanium Metals” or the “Company”) (NYSE: TIE) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Precision Castparts Corporation (“Precision”) (NYSE: PCP) in a transaction valued at approximately $2.9 billion.
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Under the terms of the proposal, public shareholders of Titanium Metals will receive $16.50 per share in cash for each share of Titanium Metals they own.
The investigation concerns whether Titanium Metals’ board of directors failed to adequately shop the Company and obtain the best possible value for Titanium Metals’ shareholders before entering into an agreement with Precision. According to Yahoo! Finance, at least one analyst has set a price target for Titanium Metals stock at $20.00 per share.
If you own the common stock of Titanium Metals and purchased your shares before November 9, 2012, if you have information or would like to learn more about these claims, 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 Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/titanium-metals-corporation-tie.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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