INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Bolt Technology Corp. (BOLT) Over the Proposed Sale of the Company to Teledyne Technologies Incorporated (TDY)
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 Bolt Technology Corp. (“Bolt” or the “Company”) (NasdaqGS: BOLT) for potential breaches of fiduciary duties in connection with the sale of the Company to Teledyne Technologies Incorporated (NYSE: TDY) for approximately $171 million. The Company’s stockholders will only receive $22.00 for each share of Bolt common stock they own, which is below the Company’s December 2013 trading price of $22.73.
The investigation focuses on whether Bolt’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Bolt’s shareholders.
If you own common stock in Bolt 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
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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