NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong is investigating the Board of Directors of Hawk Corporation (“Hawk” or the “Company”) (AMEX:HWK) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Carlisle Companies, Inc. (“Carlisle”) (NYSE:CSL). Under the terms of the transaction, Hawk will be acquired by Carlisle with Hawk shareholders receiving $50.00 per share in cash which an enterprise value of approximately $410 million.
The transaction is expected to be accretive to Carlisle in the first year. The investigation concerns whether the Hawk Board of Directors breached their fiduciary duties to Hawk stockholders by failing to adequately shop the Company before entering into this transaction and whether Carlisle is underpaying for Hawk shares. Ronald Weinberg, Hawk's chairman and CEO, along with directors Norman Harbert and Byron Krantz, who collectively hold approximately 34% of Hawk's outstanding common stock, have entered into agreements with Carlisle to tender their shares.
If you own common stock in Hawk and wish to obtain additional information, please contact Vincent Wong, Esq. either via email firstname.lastname@example.org, by telephone at 212.584.2740, or visit http://www.wongesq.com/hawk-hwk.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights.