SHAREHOLDER ALERT: Brower Piven Launches An Investigation Into The Proposed Sale Of Dresser-Rand Group Inc. And Encourages Investors To Contact The Firm For Additional Information
The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Dresser-Rand Group Inc. (“Dresser-Rand” or the “Company”) (NYSE:DRC) relating to the proposed buyout of the Company by Siemens AG.
Under the terms of the transaction, Dresser-Rand shareholders are anticipated to receive $83.00 in cash for each share of Dresser-Rand stock owned. The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into the transaction, and whether Siemens AG is underpaying for Dresser-Rand shares. In particular, the proposed offer price represents a premium of only 3.9% to the $79.91 per share closing price of Dresser-Rand stock on September 19, 2014, the last trading day prior to the deal’s announcement. The $83.00 per share offer price also fails to provide any meaningful premium to the 52-week trading high of Dresser-Rand stock of $82.50 per share.
If you currently own common stock of Dresser-Rand and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
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