STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Bolt Technology Corp. (“Bolt” or the “Company”) (NASDAQ: BOLT) relating to the proposed buyout of the Company by Teledyne Technologies Incorporated (“Teledyne”).
On September 3, 2014, Bolt and Teledyne jointly announced that they have entered into a definitive agreement that provides for the merger of Bolt with a wholly-owned subsidiary of Teledyne in a transaction valued at approximately $171 million.
Under the terms of the transaction, Bolt stockholders are anticipated to receive $22.00 for each share of Bolt common stock they own. The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into the transaction, and whether Teledyne is underpaying for Bolt shares.
If you currently own common stock of Bolt and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.