Faruqi & Faruqi, LLP Is Investigating the Board of Directors of Titanium Metals Corporation (TIE) for Potential Breaches of Fiduciary Duties
NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Titanium Metals Corporation ("Titanium" or the "Company") (NYS: TIE) for potential breaches of fiduciary duties related to the sale of the Company to Precision Castparts Corp. ("Precision") (NYS: PCP) . Under the terms of the proposed transaction, Titanium's stockholders will receive $16.50 per each share of Titanium, while according to Yahoo! Finance, at least one financial analyst has set a price target of $20 for Titanium. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote. The time is of the essence since the tender offer is to expire on December 19, 2012.
Furthermore, on November 20, 2012, the Company filed a Solicitation/Recommendation Statement on Schedule 14D-9 with the S.E.C., which recommends that Titanium's shareholders tender their shares to Precision without adequate disclosure of all material information.
Request more information now by clicking here: www.faruqilaw.com/TIE . There is no cost or obligation to you.
The investigation focuses on whether Titanium'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 Titanium's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in Titanium and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/TIE or 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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