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The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of C&D Technologies, Inc.

  //science-technology.news-articles.net/content/2 .. ounce-investigation-of-c-d-technologies-inc.html
  Published in Science and Technology on Tuesday, October 4th 2011 at 20:40 GMT by Market Wire
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DALLAS--([ BUSINESS WIRE ])--Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating the acquisition of C&D Technologies, Inc. (aC&D Technologiesa or aCHHPa) (OTC: CHHP) by an affiliate of Angelo, Gordon & Co. Under the proposed buyout, C&D Technologies shareholders will receive only $9.75 in cash for each share of C&D Technologies/CHHP stock owned, which is below the price that CHHP stock traded as recently as January 2011.

"We are investigating the fairness of the proposed transaction to C&D Technologies shareholders, whether the shareholders are being underpaid for their stock, and whether C&D Technologiesa™ Board of Directors acted in the shareholdersa™ best interest"

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The definitive acquisition agreement involves an all cash transaction valued at approximately $50 million. The transaction is expected to be completed in the fourth quarter of 2011.

Under the terms of the acquisition, no additional shareholder approval is needed because Angelo, Gordon & Co. already holds approximately 65% of the outstanding shares of C&D Technologiesa™ common stock. aWe are investigating the fairness of the proposed transaction to C&D Technologies shareholders, whether the shareholders are being underpaid for their stock, and whether C&D Technologiesa™ Board of Directors acted in the shareholdersa™ best interest,a said shareholder rights attorney Willie Briscoe. In particular, although the acquisition price represents an approximate 31% premium over C&D Technologies closing price the day before the acquisition announcement, as recently as January 2011, C&D Technologies shares closed at $9.80 per share. aBased on these and other factors, we believe that the transaction may significantly undervalue C&D Technologies stock, and our anticipated lawsuit will seek to obtain the highest share price for all shareholders,a said Willie Briscoe.

[ The Briscoe Law Firm, PLLC ] is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

[ Powers Taylor, LLP ] is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.