Faruqi & Faruqi, LLP Is Investigating the Board of Directors of Titanium Metals Corp. (TIE) for Potential Breaches of Fiducia...
November 21 2012 - 5:01PM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of Titanium Metals Corporation (“Titanium” or the
“Company”) (NYSE: TIE) for potential breaches of fiduciary duties
related to the sale of the Company to Precision Castparts Corp.
(“Precision”) (NYSE: PCP). Under the terms of the proposed
transaction, Titanium’s stockholders will receive $16.50 per each
share of Titanium, while according to Yahoo! Finance, at least one
financial analyst has set a price target of $20 for Titanium. The
proposed transaction is structured as a tender offer and may be
effectuated without a shareholder vote. The time is of the essence
since the tender offer is to expire on December 19, 2012.
Furthermore, on November 20, 2012, the Company filed a
Solicitation/Recommendation Statement on Schedule 14D-9 with the
S.E.C., which recommends that Titanium’s shareholders tender their
shares to Precision without adequate disclosure of all material
information.
Request more information now by clicking here:
www.faruqilaw.com/TIE. There is no cost or
obligation to you.
The investigation focuses on whether Titanium’s Board of
Directors breached their fiduciary duties to the Company’s
stockholders by failing to conduct an adequate and fair sales
process prior to agreeing to this proposed transaction, whether and
by how much this proposed transaction undervalues the Company to
the detriment of Titanium’s shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, throughout all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in Titanium and wish to obtain
additional information and protect your investments free of charge,
please visit us at www.faruqilaw.com/TIE or contact Juan E.
Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or
by telephone at (877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2012 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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