The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of EDAC Technologies Corporation (“EDAC” or the “Company”) (Nasdaq: EDAC) and other violations of state law by the board of directors of EDAC relating to the proposed buyout of the Company by GB Aero Engine LLC, an affiliate of Greenbriar Equity Group LLC. The firm’s investigation seeks to determine, among other things, whether EDAC’s board of directors breached their fiduciary duties by failing to maximize shareholder value.
As stated in the press release announcing the proposed buyout, EDAC shareholders will receive $17.75 in cash for each share of EDAC they own. Insiders holding approximately 18% of Company stock have already agreed to tender their shares.
If you currently own common stock of EDAC and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at
, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.