Faruqi & Faruqi, LLP Is Seeking More Cash For The Shareholders Of Presstek, Inc. (PRST)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Presstek, Inc. (“Presstek” or the “Company”) (NASDAQ: PRST) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to MAI Holdings, Inc., an entity affiliated with American Industrial Partners Capital Fund IV, L.P., in an all-cash deal valued at approximately $26.62 million. Under the terms of the proposed transaction, Presstek shareholders will receive $0.50 in cash per each share of Presstek common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $3 for Presstek.
Whether Presstek’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 the proposed transaction undervalues Presstek’s shares and by how much this proposed transaction undervalues the Company to the detriment of Presstek’s shareholders are the key focus of this investigation.
If you own common stock in Presstek and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org 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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