EL SEGUNDO, Calif., May 11, 2009 (GLOBE NEWSWIRE) -- Kirtland & Packard LLP, a law firm with extensive experience prosecuting complex litigation on behalf of consumers and investors, announces that it is investigating potential claims against the Board of Directors of Limco-Piedmont Inc. ("Limco-Piedmont" or the "Company") (Nasdaq:LIMC), concerning possible breaches of their duties and other violations of law related to the Company's sale to its largest and controlling shareholder, TAT Technologies Ltd. ("TAT"). Under the terms of the merger agreement, Limco-Piedmont shareholders will receive one half of an ordinary share of TAT for each share of Limco-Piedmont they own, or approximately $2.37 per share based on TAT's share price on April 3, 2009. As Limco-Piedmont shares traded as high as $2.45 per share as recently as March 12, 2009 and have been consistently trading above $2.37 per share since the announcement of the transaction, the transaction appears to be unfair and an undervaluation of the Company.
If you own the common stock of Limco-Piedmont and have information, would like to learn more about these claims, wish to discuss these matters, or have any questions concerning this announcement or your rights or interests with respect to these matters, or would like to learn more about the Firm, please contact Behram Parekh, Esq., Kirtland & Packard LLP, 2361 Rosecrans Avenue, Fourth Floor, El Segundo, California 90245 by e-mail at secinfo@kirtlandpackard.com, telephone at (310) 536-1000, or visit our website at www.kirtlandpackard.com.