This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Buyout Alert - Zoltek - Law Firm Seeks Higher Price For Shareholders

NEW YORK, Sept. 27, 2013 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Zoltek Companies, Inc. (NASDAQ: ZOLT) on behalf of shareholders.  Zoltek announced that it has entered into a merger agreement with Toray Industries, Inc. Under the terms of the agreement, Toray will acquire all of Zoltek's outstanding shares for $16.75 per share in cash, for a total equity value of approximately $584 million.  In connection with the execution of the merger agreement, Zsolt Rumy, the Company's Chairman and Chief Executive Officer, entered into a voting agreement with Toray, in which Mr. Rumy agreed to vote his Company stock, representing approximately 18% of the Company's outstanding shares, in favor of the merger.

The investigation concerns whether Mr. Rumy and the other board of directors of Zoltek breached their fiduciary duties to shareholders by not engaging in a full and fair auction of the company so that shareholders could obtain the maximum value for their shares.  Indeed, the stock of Zoltek has traded over $19 per share just recently.

If you are a shareholder of Zoltek and would like additional information regarding this matter and how it affects your rights as a shareholder at no cost or expense please contact us:

Tripp Levy PLLC  New York, New York  Toll free: 1-877-772-3975   Email: contact@tripplevy.com  www.tripplevy.com

Tripp Levy PLLC is a national law firm with extensive experience in mergers and acquisitions and buyouts and has recovered millions for shareholders around the globe.

Attorney Advertising.  Prior results do not guarantee a similar outcome.

SOURCE Tripp Levy PLLC

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs