Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of EDAC Technologies Corporation (“EDAC”) (Nasdaq: EDAC) to GB Aero Engine LLC, an affiliate of Equity Group, LLC for shareholders. Under the terms of the proposed deal valued at approximately $104.1 million, EDAC shareholders will only receive $17.75 in cash for each share of stock owned.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via email at firstname.lastname@example.org. There is no cost or fee to you.
The EDAC sale investigation centers on whether EDAC’s shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues EDAC’s stock, and whether EDAC’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Shareholder rights attorney Willie Briscoe stated that “based upon the proposed sale price, the size of the deal and other factors, we believe this transaction may undervalue EDAC’s stock. Our proposed lawsuit will seek to ensure that shareholders are receiving the highest share price for their shares.”
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.