WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Ceradyne, Inc. (“Ceradyne” or the “Company”) (NASDAQ GS: CRDN) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by 3M Company (“3M”) (NYSE: MMM) in a transaction valued at approximately $670 million, net of cash, cash equivalents, short-term investments and debt acquired.
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Under the terms of the proposal, public shareholders of Ceradyne will receive $35.00 per share in cash for each share of Ceradyne they own.
The investigation concerns whether Ceradyne’s board of directors failed to adequately shop the Company and obtain the best possible value for Ceradyne’s shareholders before entering into an agreement with 3M. According to Yahoo! Finance, at least one analyst has set a price target for Ceradyne stock at $37.00 per share.
If you own the common stock of Ceradyne and purchased your shares before October 1, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/ceradyne-inc-crdn.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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Source: Rigrodsky & Long, P.A.