Ademi & Fruchter LLP is investigating TRIUMPH (NYSE: TGI) for possible breaches of fiduciary duty and other violations of law in its transaction with Warburg Pincus and Berkshire Partners.
In the transaction, TRIUMPH stockholders will receive only $26.00 per share in cash for a total enterprise value of approximately $3 billion. TRIUMPH insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for TRIUMPH by imposing a significant penalty if TRIUMPH accepts a competing bid. We are investigating the conduct of TRIUMPH’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.