DALLAS, Sept. 24, 2009 (GLOBE NEWSWIRE) -- Kendall Law Group, led by a former federal judge and former U.S. Attorney, announces a shareholder investigation on behalf of Hi-Shear Technology Corp. (AMEX:HSR) regarding possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Chemring Group PLC.
The firm's investigation concerns whether the Board of Directors breached their fiduciary duties to Hi-Shear shareholders by selling the Company and agreeing to a no solicitation provision and a $4 million termination fee. This transaction is valued at approximately $132 million. According to the agreement, Hi-Shear shareholders will receive $19.18 in cash per share.
Kendall Law Group has nationwide experience representing investors in mergers and acquisitions. For information about your rights as a Hi-Shear shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
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