Investors who purchased shares of the Flow International Corporation (NASDAQ:FLOW)
The investigation by a law firm concerns whether certain officers and directors of Flow International Corporation breached their fiduciary duties owed NASDAQ:FLOW investors in connection with the proposed acquisition.
On September 25, 2013, Flow International Corporation (NASDAQ:FLOW)
However, given that at least one analyst has set the high target price for NASDAQ:FLOW shares at $5.00 per share and that NASDAQ:FLOW shares traded as high as $4.30 per share in early 2012, the investigation concerns whether the $
-offer is unfair to NASDAQ:FLOW stockholders. More specifically, the investigation concerns whether the Flow International Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Flow International Corporation reported that its Total Revenue rose from $173.75 million for the 12 months period that ended on April 30, 2010 to $259.34 million for the 12 months period that ended on April 30, 2013.
Shares of Flow International Corporation closed on Sept. 26, 2013, at $3.96 per share.
Those who are current investors in Flow International Corporation (NASDAQ:FLOW)