BALA CYNWYD, Pa., Oct. 2, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Ceradyne, Inc. ("Ceradyne" or the "Company") (Nasdaq- CRDN) relating to the proposed acquisition by 3M Company ("3M").
Under the terms of the transaction, Ceradyne shareholders will receive only $35.00 in cash for each share of Ceradyne stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Ceradyne for not acting in the Company's shareholders' best interests in connection with the sale process to 3M. The transaction may undervalue the Company and result in a substantial loss for many Ceradyne shareholders. For example Ceradyne stock traded at $49.40 as recently as May 10, 2011 and an analyst has set a $37.00 price target for Ceradyne.
If you own shares of Ceradyne 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 investorrelations@brodsky-smith.com visiting http://brodsky-smith.com/484-crdn-ceradyne-inc.html, by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC