SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Magnetek, Inc. (NASDAQ: MAG) breached their fiduciary duties in connection with the proposed sale of the Company to Columbus McKinnon Corporation.
Magnetek provides digital power control systems to control motion and power primarily in material handling, elevator, and mining applications.
On July 27, 2015, Magnetek announced that it had signed a definitive merger agreement with Columbus McKinnon. Under the terms of the agreement, Columbus McKinnon will pay $50.00 per Magnetek share in cash.
The investigation concerns whether the Magnetek board is acting in the shareholders’ best interests, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock.
If you are a shareholder of Magnetek and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.