WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of Furmanite Corporation (NYSE: FRM)?
- Did you purchase any of your shares prior to November 2, 2015?
- Do you think the proposed buyout value is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Furmanite Corporation (“Furmanite” or the “Company”) (NYSE: FRM) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Team, Inc. (“Team”) (NYSE: TISI), in a transaction valued at approximately $335 million.
Click here to learn more: http://rigrodskylong.com/investigations/furmanite-corporation-frm.
Under the terms of the agreement, shareholders of Furmanite will receive 0.215 shares of Team for each share of Furmanite they own. Based on Team’s closing price on October 30, 2015, Furmanite shareholders would have received compensation valued at approximately $7.53 per share.
The investigation concerns whether Furmanite’s board of directors failed to adequately shop the Company and obtain the best possible value for Furmanite’s shareholders before entering into an agreement with Team. According to Yahoo! Finance, at least one analyst has issued a price target for Furmanite stock at $8.00 per share.
If you own the common stock of Furmanite and purchased your shares before November 2, 2015, 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 Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://rigrodskylong.com/investigations/furmanite-corporation-frm.
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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