From the Wires
Law Office of Brodsky & Smith, LLC Announces Investigation of Titanium Metals Corporation
By: PR Newswire
Nov. 13, 2012 09:35 PM
BALA CYNWYD, Pa., Nov. 13, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Titanium Metals Corporation ("Titanium" or the "Company") (NYSE: TIE) relating to the proposed acquisition by Precision Castparts Corporation ("Precision Castparts").
Under the terms of the transaction, Titanium shareholders will receive only $16.50 in cash for each share of Titanium stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Titanium for not acting in the Company's shareholders' best interests in connection with the sale process to Precision Castparts. The transaction may undervalue the Company and will result in no substantial gain or even a loss for many Titanium shareholders. For example Titanium stock traded at $20.48 on February 16, 2011 and $16.42 as recently as January 19, 2012. In addition, an analyst has set a price target for Titanium stock at $20.00 per share.
If you own shares of Titanium stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org visiting http://brodsky-smith.com/504-tie-titanium-metals-corporation.html, by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC
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