NEW YORK, Feb. 14, 2018 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Hardinge Inc. (“HDNG” or the “Company”) (NASDAQ: HDNG) in connection with the proposed acquisition of the Company by affiliate Privet Fund Management LLC. Under the terms of the acquisition agreement, the Company’s shareholders will receive $18.50 in cash for each HDNG share they own.
WeissLaw is investigating whether HDNG’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, HDNG shares traded above the offer price as recently as February 2, 2018, peaking on January 24, 2018, when they traded for $19.47. Moreover, the Company recently reported an impressive 26% growth in sales in the third quarter of 2017. HDNG’s President and CEO further underscored the Company’s financial success by explaining that the “higher earnings [achieved] in the quarter [were the] result of strong sales growth driven by improved global demand for [HDNG’s] products and machining solutions,” which he believes will continue to strengthen a “solid” fiscal year 2017 for the Company.
Given these facts, WeissLaw is investigating whether HDNG’s Board acted in the best interests of HDNG’s public shareholders to maximize shareholder value prior to entering into the agreement. If you own HDNG shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/hardinge-inc/
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