SAN DIEGO, Dec. 1, 2016 /PRNewswire/ -- Shareholder rights
law firm Johnson & Weaver, LLP has launched an investigation
into whether the board members of CLARCOR Inc. (NYSE: CLC) breached
their fiduciary duties in connection with the proposed sale of the
Company to Parker Hannifin Corporation. CLARCOR provides filtration
products, filtration systems and services worldwide.
On December 1, 2016, CLARCOR
announced it had signed a definitive merger agreement with
Parker Hannifin. Under the terms of
the agreement, Parker Hannifin will
acquire all of the outstanding shares of CLARCOR common stock for
$83.00 per share in cash.
The investigation concerns whether the CLARCOR board failed to
satisfy their duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for CLARCOR
shares of common stock. Nationally recognized Johnson &
Weaver is investigating whether the proposed deal price represents
adequate consideration.
If you are a shareholder of CLARCOR and believe the proposed
buyout price is too low and you're interested in learning more
about the investigation or your legal rights and remedies, please
contact lead analyst Jim Baker
(jimb@johnsonandweaver.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder
rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
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SOURCE Johnson & Weaver, LLP