BALA CYNWYD, PA / ACCESSWIRE / June 26, 2018 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Xerium Technologies, Inc. ("Xerium" or "the Company") (NYSE: XRM News) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Andritz AG ("Andritz").
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The sale of the Company comes a mere three months after the Xerium Board announced that it would be "review[ing] strategic alternatives." Under the terms of the transaction, Xerium shareholders will receive only $13.50 in cash for each share of Xerium stock they own. The investigation concerns whether the Board of Xerium breached their fiduciary duties to shareholders by not completing a full and robust auction process to elicit the highest bid to acquire Xerium, and whether Andritz is underpaying for the Company.
If you own shares of Xerium stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/xerium-technologies-inc-xrm/, or by calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC