WeissLawLLP: Sevcon, Inc. Acquisition May Not Be in the Best Interests of SEV Shareholders

NEW YORK, July 18, 2017 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Sevcon, Inc. (NASDAQ: SEV) ("SEV" or the "Company") in connection with the proposed acquisition of the Company by BorgWarner, Inc. ("BorgWarner").  On July 17, 2017, the Company announced a definitive agreement for BorgWarner to acquire all outstanding shares of SEV in a transaction valued at approximately $200 million, inclusive of debt.  Under the terms of the agreement, the Company's shareholders will receive $22.00 in cash for each SEV share they own.

WeissLaw is investigating whether SEV's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, SEV recently announced double-digit growth in the second quarter of 2017.  It reported a noteworthy 21% increase in sales to on-road customers, and a 19% increase in revenue. 

Given these facts, WeissLaw is investigating whether SEV's Board acted in the best interests of SEV's public shareholders to maximize shareholder value prior to entering into the agreement.  If you own SEV shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at [phone] or by email at [e-mail]. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [e-mail] or fill out the form on our website, http://www.weisslawllp.com/sevcon-inc/

 

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SOURCE WeissLaw LLP

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