BALA CYNWYD, PA / ACCESSWIRE / December 21, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Aerojet Rocketdyne Holdings, Inc. ("Aerojet" or the "Company") (NYSE:AJRD) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by Lockheed Martin Corporation (NYSE - LMT). Under the terms of the agreement, Aerojet stockholders will receive only $56.00 in cash for each share of Aerojet common stock they own. As part of the transaction, Aerojet declared a $5.00 per share pre-closing special dividend to holders of its common shares and convertible senior notes, on an as-converted basis. The payment of this special dividend, unless revoked, will adjust the consideration to be paid by Lockheed Martin to $51.00 per share at closing.
The investigation concerns whether the Aerojet Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Lockheed Martin is paying too little for the Company. For example, the deal consideration is below the 52-week high of $57.27 for the Company's shares.
If you own shares of Aerojet 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 Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/aerojet-rocketdyne-holdings-inc-nyse-ajrd/, or call toll free 855-576-4847.
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