Faruqi & Faruqi, LLP Answers Questions Regarding the Acquisition of Flanders Corporation (FLDR)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Flanders Corporation (“Flanders” or the “Company”) (OTC: FLDR.PK) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to an affiliate of the private equity firm Insight Equity Holdings LLC in a going-private transaction valued at about $192 million. Under the terms of the proposed transaction, Flanders shareholders will receive only $4.40 in cash for each share of Flanders stock they own.
Whether Flanders’ 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 the proposed transaction undervalues Flanders’ shares and by how much this proposed transaction undervalues the Company to the detriment of Flanders’ shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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