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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Torotel, Inc. (“Torotel” or the “Company”) (OTC: TTLO) to Standex International Corporation (“Standex”)(NYSE: SXI). Under the terms of the transaction, Torotel shareholders will receive $7.77 per share in cash.
The Torotel merger investigation concerns whether the Board of Torotel breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether Standex is underpaying for Torotel shares, thus unlawfully harming Torotel shareholders.
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