NEW YORK, Sept. 15, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Bolt Technology Corporation ("Bolt Technology" or "the Company") (Nasdaq:BOLT) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to a subsidiary of Teledyne Technologies Incorporated (NYSE:TDY). A complaint was filed in Connecticut state court.
Click here to learn more about the investigation: http://zlk.9nl.com/bolt-technology-bolt, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Bolt Technology shareholders will receive $22 for each share of Bolt Technology stock they own. Per the agreement, Bolt Technology will pay its previously-announced quarterly dividend of $0.09 per common share, payable on October 2, 2014, to stockholders of record on September 3, 2014. The investigation concerns whether the Board of Bolt Technology breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Teledyne Technologies Incorporated is underpaying for Bolt Technology shares. Bolt's directors and executive officers have agreed to vote their shares in favor of the transaction.
If you own Bolt Technology common stock 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 visit http://zlk.9nl.com/bolt-technology-bolt.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.