NEW YORK, March 20, 2013 /PRNewswire/ -- Levi &
Korsinsky is investigating the Board of Directors of EDAC
Technologies Corporation ("EDAC" or the "Company") (Nasdaq: EDAC)
for possible breaches of fiduciary duty and other violations of
state law in connection with the sale of the Company to GB Aero
Engine LLC, an affiliate of Greenbriar Equity Group LLC.
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Click here to learn how to join the action:
http://zlk.9nl.com/edac-technologies-edac/, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, EDAC shareholders will
receive only $17.75 for each share of
EDAC stock they own. The transaction has a total approximate value
of $104.1 million. The investigation
concerns whether the EDAC Board of Directors breached their
fiduciary duties to stockholders by failing to adequately shop the
Company before entering into this transaction and whether the buyer
is underpaying for EDAC shares, thus unlawfully harming the public
stockholders. Insiders at EDAC owning approximately 18.2% of the
Company have agreed to tender their shares into this
transaction.
If you own common stock in EDAC and wish to obtain additional
information, please contact Joseph E. Levi,
Esq. either via email at jlevi@zlk.com or by telephone at
(212) 363-7500, toll-free: (877) 363-5972, or
http://zlk.9nl.com/edac-technologies-edac/.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, and Washington D.C. The firm
has extensive expertise in prosecuting securities litigation
involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. The attorneys
at Levi & Korsinsky have been appointed by numerous courts
throughout the country to serve as lead counsel on behalf of
shareholders in major securities lawsuits and have successfully
recovered multimillion-dollar damages awards on behalf of
investors. For more information, please feel free to contact
any of the attorneys listed below. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY
10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
SOURCE Levi & Korsinsky, LLP
