ZOLTEK SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Zoltek Companies, Inc. (ZOLT) Over the Proposed Sale of the Company to Toray Industries, Inc.
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 Zoltek Companies, Inc. (“Zoltek” or the “Company”) (NasdaqGS: ZOLT) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Toray Industries, Inc. in a cash deal valued at approximately $584 million. Under the terms of the proposed transaction, Zoltek’s stockholders will receive $16.75 for each share of Zoltek common stock they own. The deal is a mere 2 percent premium on Zolt’s closing price on Wednesday, September 25, 2013 and a significant discount on yesterday’s closing price of $18.51.
The investigation focuses on whether Zoltek’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 Zoltek’s shareholders.
If you own common stock in Zoltek and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
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Tel: (212) 983-9330
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