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Steinway Musical Instruments Inc. (LVB)



Faruqi & Faruqi, LLP, Partner Juan E. Monteverde Launches an Investigation of Steinway Musical Instruments Inc. Over the Proposed Sale of the Company to Kohlberg & Company

Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Steinway Musical Instruments Inc. (“Steinway” or the “Company”) (NYSE: LVB) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Kohlberg & Company in a deal valued at approximately $438 million.  Under the terms of the proposed transaction, Steinway’s stockholders will receive $35.00 in cash for each share of Steinway common stock they own.

The investigation focuses on whether Steinway’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 Steinway’s shareholders. 

If you own common stock in Steinway and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330


Case Details


  • 07/01/2013

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